We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax …-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our … empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant …

2005. The relationship between excess returns, order flow, dividend yields and earning-price ratio was examined using GARCH …

We examine the impact of special dividend announcements for UK firms over the period 1989-2007. We find that the market … opportunities (low Tobin's q). For lower-growth firms, we do not find any evidence that the firm is using a special dividend to … signal future cash flow performance. Rather, it appears that these firms are using a special dividend to distribute cash that …

of the classical log dividend–price ratio, we allow the data to reveal the cointegration vector between d and p. We … define the modified dividend–price ratio (mdp), as the long run trend deviation between d and p. Using S&P 500 data for the … correlation with the risk free return component, and can discern if a low dividend state coincides with a low yield state …

Purpose: The aim of our paper is twofold. First, we examine the predictive ability of log bookmarket, dividend …-price, earnings-price and dividend-earnings ratios on the most recent data set of the strongest securities in the UK economy; unlike … the majority of the studies in this data set, our analysis is not limited on returns but further investigates dividend and …