We analyze a firm's choice between dividend payments and stock repurchases under heterogeneous beliefs and the … of its equity, choose between paying out its cash available through a dividend payment or a stock repurchase, as well as …. Finally, we develop a number of new results characterizing a firm's long-run stock returns following dividend payments and …

Using a large sample of bank seasoned equity offerings (SEO) from 2002 to 2017, we first document detailed descriptive … statistics, and showed that nonperforming assets ratio, our primary measure of bank asset quality, reached the highest value … controlling for other variables, that the bank capital ratio as at the time of the SEO announcement is significantly and …

and dividend announcements and return seasonality …