introduced by Miller and Modigliani (1961), is rejected. -- dividend announcements ; abnormal activity ; signalling effect …This paper examines the reaction of the Athens Stock Exchange (ASE) to dividend announcements by a sample of firms … multiple event-windows that are employed and therefore, the null hypothesis, which supports the irrelevance theory as …

shareholders, including their further sale. Share repurchase is like dividend payout a form of transferring profit to shareholders … adjusted Polish legal solutions to those valid in developed capital markets. -- payout policy ; share repurchase ; dividend …

Japanese firms engaged in stock repurchases to signal undervaluation but not to adjust capital structure or substitute dividend … over the sample period. By examining the motivation for signalling undervaluation, we found that firms with relatively high … high cash dividend engaged in stock repurchases to reduce agency costs related to excess cash before deregulation rather …

There are various factors that influence dividend payout policy of corporations; investment opportunity set and … dividend payout policy of Malaysian industrial products sector is investigated. The sample consists of 62 companies which were … listed on the main board of Bursa Malaysia. The dependent variable is dividend payout which is measured by dividing dividend …

Previous researches identified certain micro-level characteristics of the company as important determinants of dividend … level company choose. However, significant differences were noticed in the sensitivity of dividend size on same factors … among different countries. This paper empirically examines determinants of the dividend size of Croatian companies. The …

dividend and earning. It means that dividend has information content about return and earning and so, signaling theory was …, signaling theory was not approved. In addition to, there was a significantly positive relationship between dividend and size. It … indicates that larger firms pay more dividends. -- dividend policy ; signaling theory ; corporate operating characteristics …