Das, Somnath; Schaberl, Philipp D.; Sen, Pradyot K. - 2022
. This investigation is motivated by the evidence on analyst optimism and Ohlson (1991)’s fundamental valuation theory that … of dividends on future earnings. Consistent with theory, this association persists in settings with stable dividends, (i ….e., where dividends have limited or no signaling implications) and varies in a predictable manner with dividend payouts and cost …