Filip, Miloš - In: Czech Journal of Economics and Finance (Finance a uver) 50 (2000) 12, pp. 685-698
The average dividend yield on the Czech capital market from 1995 to 1999 was 4.8%. Stocks with high dividend yields (5.5%) exhibited non-rational price pressures after their ex-dividend date. The average over-the-period return in the four days following the ex date was negative 4.7% ? stock...