We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax …-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our … empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant …

of the classical log dividend–price ratio, we allow the data to reveal the cointegration vector between d and p. We … define the modified dividend–price ratio (mdp), as the long run trend deviation between d and p. Using S&P 500 data for the … correlation with the risk free return component, and can discern if a low dividend state coincides with a low yield state …

We empirically test whether the disposition effect has an asymmetrical impact on the price adjustment on the ex-dividend …) selling by holders of winning (losing) stocks will most likely accelerate (restrain) the downward price adjustment on the ex-dividend …

This study examines the impact of the ex-day of stock dividend on stock return and volume on Borsa Istanbul stock … return and volume is seen around the ex-day of stock dividend. The cumulative average excess return over market return starts … following. Our findings show that abnormal return around ex-day is strongly associated with stock dividend pay-out ratio, asset …

This paper investigates the impact of stock market liquidity on firms' dividend payout policy in the Australian market …. The finding suggests that stock liquidity positively relates to firm dividend payouts. The result holds after controlling … for different model estimations and different measures of stock liquidity/dividend. To address endogeneity issue, I use …

effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares … dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). …

effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares … dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). …

There are two types of stock dividend in the Chinese stock market. This paper examines them in the period of 1997 …-2008. Empirical findings indicate that the stock dividend effect appears twice. The average abnormal return is 0.88% on the stock … dividend proposal date and 0.35% on the stock dividend declaration date. Both these findings are significant. There is an …

There are two types of stock dividend in the Chinese stock market. This paper examines them in the period of 1997 …-2008. Empirical findings indicate that the stock dividend effect appears twice. The average abnormal return is 0.88% on the stock … dividend proposal date and 0.35% on the stock dividend declaration date. Both these findings are significant. There is an …

We study the stock price and trading volume reactions to dividend initiations by high-tech firms relative to those by …-tech and non-high tech firms surrounding dividend initiations. However, when we control for variables such as size and dividend … yield, stock returns and trading volume around dividend initiations are higher for high-tech firms than for non-high tech …