. Consistent with dividends substituting for earnings information, we find that dividend paying firms have 11%–15% lower earnings … response coefficients (ERCs) than non-payers. We find more substitution when the dividend provides a stronger signal of … permanent earnings: when the firm is less likely to cut the dividend, when the firm is likely to fund the dividend out of …

show that auditors charge lower fees to dividend-paying clients than to non-dividend-paying clients and the average fee … dividend firms; and dividend payouts mitigate the positive relation between earnings manipulation risk and audit fees. Our … by showing that auditors reflect the earnings quality information content of firms' dividend policies in their pricing …

dividend announcements. When dividend changes confirm preceding earnings changes, our model predicts inverse u-shaped investor … revisions conditional on the prior expectations for noisy dividend signals. As the dividend signal becomes more informative our … perfectly informative dividend signals. When dividend changes contradict preceding earnings changes, our model predicts u …

International Financial Reporting Standards (IFRS), we investigate whether and how dividend payouts based on unrealized revaluation … earnings affect a firm's default risk. Our results indicate that in the era of fair value accounting, whether the dividend …

dividend announcements. When dividend changes confirm preceding earnings changes, our model predicts inverse u-shaped investor … revisions conditional on the prior expectations for noisy dividend signals. As the dividend signal becomes more informative our … perfectly informative dividend signals. When dividend changes contradict preceding earnings changes, our model predicts u …

.e., where dividends have limited or no signaling implications) and varies in a predictable manner with dividend payouts and cost …

This study aims to examine the relationship of accounting conservatism, managerial ownership, dividend policy, firm … Earnings Ratio has significant effect while accounting conservatism, dividend policy, firm size, price to book value (PBV) and …

We analyze a firm's choice between dividend payments and stock repurchases under heterogeneous beliefs and the … of its equity, choose between paying out its cash available through a dividend payment or a stock repurchase, as well as …. Finally, we develop a number of new results characterizing a firm's long-run stock returns following dividend payments and …

Using Internet search volume of dividend-related keywords to measure investor preference for dividends that varies over … time and across states, we show that dividend sentiment affects corporate policies and asset prices. Investors search more … funds that pay high dividends receive more inflows when dividend sentiment is stronger. Further, firms initiate or increase …