Reaksi Pasar Atas Dividend Initiation dan Dividend Omission
نویسندگان
چکیده
منابع مشابه
The Dividend Initiation Decision : Theory and Evidence
This paper develops and tests a dynamic, sequential equilibrium model of corporate cash payout policy that endogenizes a firm's dividend initiation decision, and its extreme reluctance to subsequently cut dividends in a sequential equilibrium. After payment of dividends, all excess cash is disgorged via stock repurchases that elicit no price reactions. The theoretical model generates results co...
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We examine the interaction between capital structure and dividend initiation. Reasons often given for the positive abnormal return when firms initiate dividends are the signaling of asymmetric information and the reductions of agency costs. Theory also suggests that these are reasons for choosing debt in the capital structure. This study finds that the effect of initiating dividends is dampened...
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One of the reasons for tightly regulating apprenticeships was to prevent companies from hiring cheap labour under the guise of an apprenticeship programme. A simpler set of provisions to streamline regulation and incentivize corporates while protecting the interest and well-being of apprentices may now be needed. How can it be made to work? The rules and regulations overseeing apprenticeships n...
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The most relevant practical impediment to an application of the Markowitz portfolio selection approach is the problem of estimating return moments, in particular return expectations. We analyze the consequences of using return estimates implied by analysts’ dividend forecasts under the explicit notion of taxes and non-flat term structures of interest rates and achieve quite good performance res...
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The relative predictability of returns and dividends is a central issue because it forms the paradigm to interpret asset price variation. A little studied question is how dividend smoothing, as a choice of corporate policy, affects predictability. We show that even if dividends are supposed to be predictable without smoothing, dividend smoothing can bury this predictability. Because aggregate d...
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ژورنال
عنوان ژورنال: E-Jurnal Akuntansi
سال: 2019
ISSN: 2302-8556
DOI: 10.24843/eja.2019.v26.i02.p13