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The Role of mid-year dividends as predictors of yearly earnings

Anderson, Warwick - Department of Economics and Finance, College of … - 2013

New Zealand joint dividend and earnings announcement data is used to corroborate an aspect of dividend signalling espoused by Miller and Rock (1985). This is, that dividends announced within the course of a company’s financial year may be interpreted by investors as a signal about the quality...

Persistent link: https://www.econbiz.de/10010907391

Chinese Overseas M&A Performance and the Go Global Policy

Gu, Lulu; Reed, W. Robert - Department of Economics and Finance, College of … - 2011

It is well-known that government plays an important role in the business activities of Chinese firms. Less certain is the effect this influence has on the wealth of those firms’ shareholders. We contribute to the literature by analyzing stock market reactions to announcements by Chinese firms...

Persistent link: https://www.econbiz.de/10010907393

Information Asymmetry, Market Segmentation and Cross-Listing: Implicatons for Event Study Methodology

Gu, Lulu; Reed, W. Robert - Department of Economics and Finance, College of … - 2012

This paper connects three subjects related to international financial markets -- (i) information asymmetry, (ii) market segmentation, and (iii) cross-listings -- and highlights their implication for event study methodology. When firms list equities on more than one exchange, and the exchanges...

Persistent link: https://www.econbiz.de/10010907441

Chinese Overseas M&A Performance and the Go Global Policy

Gu, Lulu; Reed, W. Robert - Department of Economics and Finance, College of … - 2012

Persistent link: https://www.econbiz.de/10010548110

One For All or All For One? Using Multiple-listing Information in Event Studies

Gu, Lulu; Reed, W. Robert - Department of Economics and Finance, College of … - 2011

In an event study where at least some of the sample firms have their equity securities listed in more than one market, the question arises as to which is the most appropriate market (or markets) to use for the purpose of estimating mean abnormal returns. When arbitrage activity across these...

Persistent link: https://www.econbiz.de/10009368508

Buybacks versus Ordinary Dividends: Marginal Investor Reactions to Cash-return Announcements

Anderson, Warwick; McLaughlin, Samuel - Department of Economics and Finance, College of … - 2013

This paper examines the stock price effect in New Zealand of announcements of increases in dividends and of share repurchases from 1993 to 2009. The results are related to the soft substitution hypothesis on Australian data. Dividend-increase announcements provoke a greater positive effect on...

Persistent link: https://www.econbiz.de/10010648159

Just How Good are the Top Three Journals in Finance? An Assessment Based on Quantity and Quality Citations

Chang, Chia-Lin; McAleer, Michael - Department of Economics and Finance, College of … - 2014

The paper is concerned with ranking academic journal quality and research impact in Finance, based on the widely … category of “Business – Finance” using quantifiable Research Assessment Measures (RAMs). The analysis highlights the … of the ranks. The analysis of the 89 ISI journals in Finance makes it clear that there are three leading journals in …

Persistent link: https://www.econbiz.de/10010907407

System GMM estimation of panel data models with time varying slope coefficients

Sato, Yoshihiro; Söderbom, Måns - Nationalekonomiska institutionen, Handelshögskolan - 2013

We highlight the fact that the Sargan-Hansen test for GMM estimators applied to panel data is a joint test of valid orthogonality conditions and coefficient stability over time. A possible reason why the null hypothesis of valid orthogonality conditions is rejected is therefore that the slope...

Persistent link: https://www.econbiz.de/10011019092

The Dynamics of Electric Cookstove Adoption: Panel data evidence from Ethiopia

Alem, Yonas; Hassen, Sied; Köhlin, Gunnar - Nationalekonomiska institutionen, Handelshögskolan - 2013

Previous studies on improved cookstove adoption in developing countries use cross-sectional data, which makes it difficult to control for unobserved heterogeneity and investigate what happens to adoption over time. We use robust non-linear panel data and hazard models on three rounds of panel...

Persistent link: https://www.econbiz.de/10011019096

The Effect of Female and Male Health on Economic Growth: Cross-Country Evidence within a Production Function Framework

Hassan, Gazi M.; Cooray, Arusha; Holmes, Mark J. - Department of Economics, Waikato Management School - 2015

Adopting a production function based approach, we model the role of health as a regular factor of production on economic growth, and use disaggregate measures of male and female health capital using principal components analysis. Allowing for the dynamics of TFP to be embedded in the production...

Persistent link: https://www.econbiz.de/10011265715