We develop a return variance decomposition model to separate the role of different types of information and noise in stock price movements. We disentangle four components: market-wide information, private firm-specific information revealed through trading, firm-specific information revealed...

This research aims to explore the nexus between business strategy and dividend payments. Utilizing a dataset encompassing U.S.-listed firms spanning the period from 1995 to 2018, our analysis reveals that firms employing prospector strategies exhibit a higher propensity for dividend payments...

This study investigates the relationship between business strategy and dividend payment. Based on a sample of U.S.-listed firms from 1995 through 2017, we find that firms with prospector strategies pay more dividends than defender firms. Our findings remain unchanged after controlling for firm...