This study analyzes the firm-specific factors affecting the dividend payout decisions of the companies whose shares are …–Bover/Blunder-Bond two-step system generalized method of moments, a statistically significant positive effect on dividend payout was found in … the relationship between the dividend payout of the previous year, the company’s return on equity and the market value …

Although it has often been studied in finance research, the relationship between dividend yields and stock returns … three or five years, they may establish a dividend reputation, which could affect this relationship. The author found firms … returns, firms with foreign holdings of more than 5%, and firms with more concentrated ownership build dividend reputations …

stock return volatilities, and without a stable cash dividend policy, stock return volatilities may unrelated to the …

This article measures the reaction of marginal investors to announcement of surprise dividend increase. However, the …. The valuation theory gives many clues for interpretation of dividend changes. At the start of literature review, the … dividend irrelevance (to investment decision) assumption is met. This assumption holds up-to-date valuation procedures leading …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend–price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio …

drives investors' investment decision-making process. This study examines the effect of dividend announcement on stock …

predict stock returns. I construct a new economy-wide dividend price ratio that takes into account dividends and market … in-sample and out-of-sample annual adjusted R2 of 15.35% and 16.28%, compared to the standard dividend price ratio values … that the economy-wide dividend price ratio subsumes the standard dividend price ratio …

Aggregate dividend growth is widely thought to be unpredictable by the dividend price ratio. I show that this lack of … regression of dividend growth on the dividend price ratio goes from being negative (-1.18%) to being positive (17.54%) and ….76%) and returns (1.86% to 4.40%). Out-of-sample R2 for dividend growth and returns are large and statistically significant. I …