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 …

Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a … challenge to the neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of … empirical verification of research hypothesis stipulating that the number of dividend payers increases if the dividend payers …