Open AccessThe Market Response To Unexpected Dividend Announcements
Author(s) -
Alan A. Stephens,
Dennis R. Proffítt
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.149
H-Index - 22
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v4i4.6393
Subject(s) - dividend , dividend policy , consistency (knowledge bases) , economics , financial economics , dividend yield , monetary economics , econometrics , business , computer science , finance , artificial intelligence
Research concerning the informational content of dividends continues to provide inconsistent results. This paper argues that this lack of consistency is the result of the definition of dividend expectations used in past studies. This study examines a broad cross-section of dividend policies and incorporates into the definition of dividend policy the full range of past sequence and timing of dividend changes.