Pan, Rulu; Tang, Xiangxi; Tan, Yanyan; Zhu, Qiaoqiao - In: Emerging Markets Finance and Trade 50 (2014) 3, pp. 178-195
In this paper, we examine the announcement effects of dividends with an emphasis on stock dividends in China's capital market. We find that dividend-paying stocks exhibit significantly positive abnormal returns while non-dividend-paying stocks show a negative announcement effect. Further, we...