This paper explores the contribution of various financial measures in explaining the variability in a firm's dividend payments. Ordinary least squares analysis of data from 2003 to 2007 shows that approximately 71% of the variability in dividend payments is explained by the firm's expected...

The observed changes in share prices at the ex-dividend day have led researchers to look for a single marginal investor, either a long or a short term trader with different tax status, dominating all trades to explain the ex-day pricing in different markets. This paper provides a model which...