the following days. This dividend pay date effect has strengthened since the 1970s, and is consistent with the temporary … price pressure hypothesis. The pay date effect is concentrated among stocks with dividend reinvestment plans (DRIPs), and is … larger for stocks with a higher dividend yield, greater DRIP participation, and greater limits to arbitrage. Over time …

that institutional investors are net sellers in dividend reduction firms during the two quarters prior to the announcements …. They also trade more intensively in firms that do not prepare the market for dividend cuts or that have greater information …

This paper examines the relationship between previous dividend payment policy and the cumulative abnormal return around … non-dividend firms or with no change in dividend payment than to those of dividend paying or changing in dividend payment … firms. We also provide evidence that dividend activities mitigate the effect of information asymmetry caused by ownership …

This paper studies the impact of banks’ dividend restrictions on the behavior of their institutional investors. Using … funds permanently decrease their ownership shares at treated banks during the 2020 dividend restrictions in the Eurozone and … fund ownership and banks’ dividend yield, highlighting again the importance of dividends for European banks’ fund investors …

This paper studies the impact of banks' dividend restrictions on the behavior of their institutional investors. Using … funds permanently decrease their ownership shares at treated banks during the 2020 dividend restrictions in the Eurozone and … ownership and banks' dividend yield, highlighting again the importance of dividends for European banks' fund investors. This …

We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax …-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our … empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant …

implied by analysts' dividend forecasts under the explicit notion of taxes and non-flat term structures of interest rates and …

-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 …