It is often asserted that stock splits and stock dividends are purely cosmetic events. However, many studies have documented several stock market effects associated with stock splits and stock dividends. This paper examines the effects of these two types of events for the Danish stock market....

This paper examines the market responses to four cash payout methods: regular dividend increases, special dividends, tender-offer repurchases and open market repurchases. We also investigate the reasons why firms choose one payout form over another. We use relative, and discounted relative,...

We investigate shareholder wealth effects of stock dividends using a unique dataset from Oman in which many market frictions that are used to explain the stock dividend announcement effect are either absent or limited. We find a positive stock market reaction to stock dividend distributions. We...

This paper aims to clarify a characteristic of the dividend policies of Japanese firms by verifying the dividend life-cycle theory. The analysis revealed that in Japan, growing firms choose further dividend increases compared to mature firms, and that such dividend increases by the growing firms...