implications on dividend policy. In this context, this study isolates the main determinants and examines their behaviour across the … distribution of dividend policy. Design/methodology/approach: The study employs quantile regression analysis and a sample of 30 … each explanatory variable across the distribution. EPS has a positive and significant impact on dividend policy throughout …

model's predictions, cash-flow volatility changes in the opposite direction from that of dividend changes and larger changes …

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost … exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the … difference between the actual dividend and the analyst consensus forecast as obtained from I/B/E/S as a proxy for the dividend …

. -- Dividend Announcements ; Market Efficiency ; Ownership Structure ; Agency Theory …This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost … exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the …

crucial to investigate whether corporate managers utilize dividend payout policy as a corporate financial management tool to …-explored even though firms in emerging markets are of lower disclosure quality. This paper investigates how corporate dividend … 2015. We find a negative relation between stock market liquidity and dividend payout in Vietnamese firms. The finding …

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 …

This study tests the signaling theory of dividends by investigating the stock price reaction to dividend announcements … results indicate significant abnormal stock returns are associated with announcements of dividend changes. The results are … robust to alternative models of dividend expectations, after controlling for the impact of earnings announcements, and are …

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 …

This paper examines a firm's dividend reduction timing relative to other dividend reductions in the same industry. It … tests if the timing of dividend cuts is informative in firm valuation. The findings suggest that during periods of less … necessary dividend reductions to take advantage of such opportunities. When external financing is more accessible, firms with …

for dividend catering has been weak. Using aggregate data on real earnings per share and payout ratios, long time series … a VECM approach), we find evidence on dividend signaling as well as the stickiness of dividends. However, we also find …