Araujo, Aloisio; Moreira, Humberto; Tsuchida, Marcos - In: Journal of Financial Intermediation 20 (2011) 1, pp. 117-134
Signaling models contributed to the corporate finance literature by formalizing "the informational content of dividends" hypothesis. However, these models are under criticism as the empirical literature found weak evidences supporting a central prediction: the positive relationship between...