McManus, Ian D.; ap Gwilym, Owain; Thomas, Stephen H. - In: Managerial Finance 32 (2006) 6, pp. 518-536
seeks to provide new evidence on the link between dividend payment and returns history and firms’ subsequent stock market … distress. The analysis is expanded beyond the role of payment history, and also the importance of earnings and past returns in … that payment history is not a significant determinant of returns, while past returns play a far greater role. However, this …