negative. Inclusion worsens stock price informativeness and some aspects of governance. Compensation, investment, and financial …

inclusion. Post-inclusion performance falls and is negatively related to the increase in attention. Included firms’ investment …

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 …

investment decisions. On balance, the information transmitted through WOM does not appear to help investors make better … investment decisions. I explore possible reasons. I also discuss potential asset pricing implications, the emergence of social …

, greater long-term investor ownership is associated with more investment, more equity financing, and less payouts to …

dividends emanates from the view that dividend drops signal managerial pessimism regarding future earnings. Contrary to …Dividend reductions have long been considered a "last resort" action for firm managers. Managerial reluctance to reduce … expectations, studies show that earnings rebound significantly following a dividend reduction; yet investors react negatively to …

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 … the level of investment in its project. Outsiders have heterogeneous beliefs about project success, and may have beliefs …

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 …