This paper investigates the impact of coronavirus disease 2019 pandemic on investors' trading behaviors around ex-dividend dates in Europe. The sudden decrease number companies paying dividends reduced opportunities to capture dividends. Thus, firms that maintained dividend payments during attracted more interest than before. led a doubling magnitude stock return patterns usually observed days....

Abstract The purpose of this paper is to highlight the long-term relationship between stock prices and dividends for a sample companies listed on Casablanca Stock Exchange 2002 2016 using cointegration theory especially its developments in panel data. Our results show that are more volatile than dividends, which rejects possibility their anticipation by dividend discount model under assumption ...

This paper offers a novel explanation for why some firms prefer to pay dividends rather than repurchase shares. It is well-known that institutional investors are relatively less taxed than individual investors, and that this induces “dividend clientele” effects. We argue that firms determine the proportions of institutional and individual owners when they set dividends. Institutions have a rela...