Why Do Firms Pay Large Stock Dividends? Catering First and Cashing Out Next: Evidence from China

This study uses large stock dividends (LSDs) of Chinese listed firms from 1999 to 2018 to study the purpose of their issuance. We find that turnover rate and stock liquidity do not increase significantly after LSDs are disbursed. Stocks respond positively to LSD announcements, whereas firms' bu...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Emerging markets finance & trade 2024-10, Vol.60 (13), p.3152-3175
Hauptverfasser:	Feng, Qingchen, Xiao, Yixuan, Wang, Denghan
Format:	Artikel
Sprache:	eng
Schlagworte:	Abnormal returns catering and cashing out Dividends Emerging markets Investor behavior investor sentiment Large stock dividends
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!