Underreaction to Dividend Reductions and Omissions?  

Oleh:

Liu, Yi ; Szewczyk, Samuel H. ; Zantout, Zaher

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 63 no. 2 (Apr. 2008), page 987-1020.
Topik: Underreaction; Dividend Reductions; Omissions
Fulltext: p 987.pdf (150.44KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Using a sample of 2,337 cash dividend reduction or omission announcements over the 1927 to 1999 period, this study reports significant negative post-announcement long-term abnormal returns, which last 1 year only. However, this long-term abnormal performance is driven by the post-earnings-announcement drift. After controlling for the earnings performance and the skewness of buy-and-hold abnormal returns, there is no compelling evidence of a post-dividend-reduction or post-dividend-omission price drift.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali