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We examined the dividend policy and financial performance nexus among listed firms in Ghana, having controlled for firm age, size, capital structure, governance, and financial sector clean-up. We employed the system dynamic general method of moments (GMM) estimation technique with data from 2015...
Persistent link: https://www.econbiz.de/10014500221
This study investigates the informational effect of stock liquidity on dividend payouts. Using a sam- ple of Polish … robust to the use of alternative measures of liquidity, and holds after we control for endogeneity concerns. In accord with … my hypothesis that stock liquidity provides information and increases insiders’ incentive to pay out dividends, I do not …
Persistent link: https://www.econbiz.de/10011865505
The effect of stock liquidity on stock returns is well documented in the developed capital markets, while similar …-dependent variance of liquidity premium in the Polish stock market. The Polish capital market may serve as a benchmark for other emerging … Polish stock market exists stock liquidity premium, which is statistically significant, but constitutes only a small fraction …
Persistent link: https://www.econbiz.de/10012238765
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factor premiums are present after accounting for liquidity constraints. Fourth, we check whether the factor premiums are …, but they disappear after accounting for transaction costs and liquidity. …
Persistent link: https://www.econbiz.de/10011455379
Stock markets stand as a financial mechanism that provides liquidity for firms and offers diversification benefits for …
Persistent link: https://www.econbiz.de/10012506181
The efficient market hypothesis describes an efficient market as one in which investors cannot consistently predict stock returns because prices instantly reflect all the information flowing into the market. However, return predictability has been documented in many markets. This study tests the...
Persistent link: https://www.econbiz.de/10013179575
This article aimed to analyse the factors that influence the level of underpricing of an initial public offering (IPO) on the Warsaw Stock Exchange (WSE), based on the example of 101 companies debuting on the main market between 2010 and 2019. We discuss the theories that explain IPO...
Persistent link: https://www.econbiz.de/10012435564
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