English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 94986/125531 (76%)
Visitors : 30938102      Online Users : 474
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/67027
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/67027

    Title: The Long-term Performance following Dividend Initiations and Resumptions Revisited
    Authors: 周冠男
    Chen, Sheng-Syan;Chou, Robin K.;Lee, Yun-Chi
    Contributors: 財管系
    Keywords: Dividend Initiation;Dividend Resumption;IPO firms;Long-Term Stock Performance;Regulated Firms
    Date: 2014-10
    Issue Date: 2014-06-30 17:56:37 (UTC+8)
    Abstract: Previous studies have documented that an announcement of dividend initiation and resumption is associated with an increase in stock price, while Boehme and Sorescu (J Finance 47:871–900, 2002) argue that the dividend anomaly only occurs by chance. However, their sample contains firms listed within 3 and/or 5 years of their respective initial public offering (IPO) dates, as well as regulated firms. We conjecture that the confounding effects of IPOs and regulated firms may interfere with the increase in stock prices due to dividend initiations and resumptions and bias their results. We thus reexamine the long-term stock performance following dividend initiations and resumptions by excluding newly IPO firms and regulated firms. We find no evidence that the non-robust positive price drifts for firms, which initiate or resume cash dividends, is due to the confounding effects of IPOs and regulated firms. Therefore the price drifts after dividend initiation and resumption announcements may be a sample-specific result of chance, even after controlling for possible sample selection biases.
    Relation: Journal of Economics and Finance,38(4), 643-657
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1007/s12197-012-9243-x
    DOI: 10.1007/s12197-012-9243-x
    Appears in Collections:[財務管理學系] 期刊論文

    Files in This Item:

    File Description SizeFormat
    012-9243-x.pdf200KbAdobe PDF945View/Open

    All items in 政大典藏 are protected by copyright, with all rights reserved.

    社群 sharing

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback