Article(electronic)December 1996

POST‐ANNOUNCEMENT DRIFTS ASSOCIATED WITH DIVIDEND CHANGES

In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Volume 19, Issue 4, p. 541-559

Bae, Gil S.

Order using Access(via your institution)Order using Subito

Checking availability at your location

Abstract

AbstractIn this paper I assess the presence of post‐announcement drifts associated with dividend changes after controlling for earnings surprises. All quarterly cash dividend changes announced by firms listed on the New York Stock Exchange (NYSE) and American Stock Exchange (AMEX) from 1974 through 1989 are examined. The results show that significant post‐announcement drifts associated with dividend changes are present after controlling for earnings surprises. However, the results are not conclusive on whether the market fully incorporates the simple time‐series properties of dividends.

Languages

English

Publisher

Wiley

ISSN: 1475-6803

DOI

10.1111/j.1475-6803.1996.tb00229.x

ExportReport Issue

Report Issue

If you have problems with the access to a found title, you can use this form to contact us. You can also use this form to write to us if you have noticed any errors in the title display.