exclusion of dividends understates the benefits of diversification and has an influence on optimum portfolio selection and …

particularly difficult in the UK because UK dividends are almost invariably announced simultaneously with information about … conflict with one another ‐ where dividends are increased and earnings decrease or vice versa. The influence of combinations of …

relationship between dividends, corporate earnings, real growth and inflation in the USA by applying cointegration techniques. In … dividends. Research limitations/implications – The most important finding of this paper is the indication of a positive … therefore the dividends paid. Independently from the interpretation of the results, inflation should definitely be considered …

dividends by applying the χ 2 technique to test the level of association between earnings, cash dividends and stock dividends … signalling hypothesis as explanations for the information stock dividends convey to shareholders. Research limitations …

. However, positive innovations to dividends in both China and India have a negative impact on returns. We conjecture that the … high potential growth rates in these markets make it preferable for companies to retain earnings rather than pay dividends …

prices and the log dividends. However, the empirical results also show that the cointegrating relationship has changed over …