This paper studies the effects of stock splits on returns using daily data from the Singapore Stock Exchange over the period 1983-2000. Specifically, it examines whether stock split announcements provide credible signals due to asymmetry of information. We find that the market, on average,...

The main objective of this research is to analyze the relationship between managerial ownership, institutional ownership, risk, debt policy, and dividend policy which are included as strategic variables in company.s decision making of Indonesian stock market. Company size, liquidity,...

We propose an asset pricing model in a production economy where cash flows are determined by firms' optimal dividend and investment decisions. Extensive and intensive decision margins in dividend payout are modeled with cash holding and investment adjustment costs. The model implies that delays...

This work develops asymptotically optimal dividend policies to maximize the expected present value of dividends until ruin. Compound Poisson processes with regime switching are used to model the surplus and the switching (a continuous-time controlled Markov chain) represents random environment...

This study is an empirical examination of a new theory that links dividends to institutional ownership in a framework of both information signaling and agency costs. Under this theory put forth by Allen, Bernardo and Welch in 2000, dividends are paid out to attract tax-favored institutional...

This thesis examines how industry differences affect both corporate financial policies and valuation. Chapter 1 studies the impact of a firm‟s product market power, through the channel of business risk, on its dividend policy. Using three measures of market power – the Herfindahl-Hirschman...

This thesis examines the patterns and determinants of corporate financial policy(capital structure and dividend policy) in Zimbabwe. In particular it investigatesvarious aspects of corporate financial behaviour in an emerging market; the evolutionof corporate financial structure and dividend...

This study aimed to determine how the influence of Corporate Governance consisting of Institutional Ownership, Managerial Ownership, Independent Commissioner, Audit Committee Meetings as well as Dividend Policy on firm value and how Corporate Social Responsibility moderates this influence. This...

This study examines whether investor reactions are sensitive to the recent direction and/orvolatility of underlying market movements. We find dividend change announcements elicit agreater change in stock price when the nature of the news (good or bad) goes against the grain ofthe recent market...

This dissertation is a collection of three essays that cover issues in poverty analysis. The first essay (Partial Identification of PovertyMeasures with Contaminated and Corrupted Data) applies a partial identification approach to poverty measurement when data errors arenon-classical in the...