Do dividend changes really signal?: evidence from Sweden
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Stockholm
School of Business Research
1997
|
| Series: | Företagsekonomiska Institutionen <Stockholm>: Rapport
1997,6 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Zugl.: Stockholm, Univ., Diss., 1997 |
| Physical Description: | IV, 162 S. |
| ISBN: | 9171536841 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Contents
1. Dividend Policy: An Introduction 1
1.1 Introduction 1
1.2 The Irrelevance Theory 5
1.2.1 The Miller Modigliani Irrelevance Argument 5
1.2.2 Dividend Policies 5
1.3 Factors that Influence Dividend Policy 6
1.3.1 Taxes and Dividend Policy 6
1.3.2 Agency Theory 7
1.3.3 Dividend Signaling 8
1.4. Summary of the Thesis 10
References 13
Figures 15
2. Joint Dividend and Earnings Announcements, Firm Size and Tax Law Changes 17
2.1 Introduction 17
2.2. Data and Sample selection 19
2.3. Methodology 20
2.3.1 Dividend Expectation Model 20
2.3.2 Earnings Expectation Model 21
2.3.3 Measurement of Abnormal Returns 22
2.4. Empirical Results 25
2.5. Conclusions 31
References 33
Tables 35
3. Market Response to Dividend Initiations and Omissions 39
3.1 introduction 39
3.2. Data and Hypotheses 42
3.2.1 Data 42
3.2.2 Hypotheses 43
3.3. Methodology 43
3.3.1 Dividend Expectation Model 43
ii
3.3.2 Measurement of Abnormal Returns 44
3.3.3 Statistical Tests for Changes in Variance 45
3.4. Empirical Results 45
3.4.1 Dividend Increases 45
3.4.2 Initiations 47
3.4.3 Dividend Reductions 47
3.4.4 Omissions 48
3.4.5 Changes in Variance 48
3.5. Summary and Conclusion 49
References 51
Tables 53
4. Annual Dividends and Subsequent Quarterly Earnings 61
4.1 Introduction 61
4.2 Data and Hypotheses 64
4.2.1 Data 64
4.2.2 Hypotheses 65
4.3 Methodology 65
4.4 Empirical Results 67
4.4.1 Regression Analysis 67
4.4.2 Dividend Increase and Decrease Subsamples and Subsequent EPS Changes 70
4.4.3 Dividend Categories and Subsequent EPS changes 71
4.5 Summary and Conclusion 72
References 74
Tables 75
5. Annual Dividend Cuts and Surrounding Annual Earnings Performance 83
5.1 Introduction 83
5.2 Data and Methodology 85
5.3 Results 86
5.4 Summary and Conclusions 88
References 90
Tables 91
Figures 94
iii
6. Cash Dividends in Sweden: The Management s View 95
6.1 Introduction 95
6.2 Data and Methodology 98
6.3 Empirical Results 101
6.3.1 Total Sample 101
6.3.2 Does Listing Matter? 103
6.3.3 Does Size Matter? 105
6.3.4 Does Industry Matter? 106
6.4. Summary and Conclusions 109
References 112
Tables 113
Appendix 124
iv
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| id | DE-604.BV012328386 |
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| spelling | Alkebäck, Per Verfasser aut Do dividend changes really signal? evidence from Sweden Per Alkebäck Stockholm School of Business Research 1997 IV, 162 S. txt rdacontent n rdamedia nc rdacarrier Företagsekonomiska Institutionen <Stockholm>: Rapport 1997,6 Zugl.: Stockholm, Univ., Diss., 1997 Dividendenpolitik (DE-588)4070510-9 gnd rswk-swf Aktienkurs (DE-588)4141736-7 gnd rswk-swf Schweden (DE-588)4077258-5 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Schweden (DE-588)4077258-5 g Dividendenpolitik (DE-588)4070510-9 s Aktienkurs (DE-588)4141736-7 s DE-604 Företagsekonomiska Institutionen <Stockholm>: Rapport 1997,6 (DE-604)BV000019945 1997,6 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008359327&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Alkebäck, Per Do dividend changes really signal? evidence from Sweden Företagsekonomiska Institutionen <Stockholm>: Rapport Dividendenpolitik (DE-588)4070510-9 gnd Aktienkurs (DE-588)4141736-7 gnd |
| subject_GND | (DE-588)4070510-9 (DE-588)4141736-7 (DE-588)4077258-5 (DE-588)4113937-9 |
| title | Do dividend changes really signal? evidence from Sweden |
| title_auth | Do dividend changes really signal? evidence from Sweden |
| title_exact_search | Do dividend changes really signal? evidence from Sweden |
| title_full | Do dividend changes really signal? evidence from Sweden Per Alkebäck |
| title_fullStr | Do dividend changes really signal? evidence from Sweden Per Alkebäck |
| title_full_unstemmed | Do dividend changes really signal? evidence from Sweden Per Alkebäck |
| title_short | Do dividend changes really signal? |
| title_sort | do dividend changes really signal evidence from sweden |
| title_sub | evidence from Sweden |
| topic | Dividendenpolitik (DE-588)4070510-9 gnd Aktienkurs (DE-588)4141736-7 gnd |
| topic_facet | Dividendenpolitik Aktienkurs Schweden Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008359327&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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