shareholders, including their further sale. Share repurchase is like dividend payout a form of transferring profit to shareholders … adjusted Polish legal solutions to those valid in developed capital markets. -- payout policy ; share repurchase ; dividend …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio … predictability ; dividend-price ratio ; payout policy ; sample selection ; choice of organizational structure …

Dividend policy is one of controversial financial issues. There are various theories about dividend but in this study … for investors and analysts. The aim of this study is preparing the evidence on dividend signaling about corporate … that significantly positive correlation exists between dividend and return. Also, there was a similar relationship between …

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 …

For more than 50 years, researchers around the world have been searching for a solution to Blacks famous "dividend … "traditional view" of dividend taxation, German decision-makers cut back their dividend payments in response to the reduced …

This paper examines the reaction of the Athens Stock Exchange (ASE) to dividend announcements by a sample of firms … introduced by Miller and Modigliani (1961), is rejected. -- dividend announcements ; abnormal activity ; signalling effect …

This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax … preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the … concentration of control does not have an effect on the dividend payout, there is strong evidence that the type of controlling …

tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a … corporations' debt-equity ratios. The debt ratios drop sharply after the implementation of the reform. -- Neutral dividend tax …

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 …