Using a sample of US listed firms over the 1989–2012 period, we find that financially constrained dividend … performance. Likewise, constrained firms that increase dividends during the financial crisis also deliver inferior post-dividend … to new equity issue announcements following dividend increase, but display a positive market response if they potentially …

Using a sample of US listed firms over the 1989-2012 period, we find that financially constrained dividend increasing … performance. Likewise, constrained firms that increase dividends during the financial crisis also deliver post-dividend … reaction to new equity issue announcements following dividend increase but display a positive market response if they …