The Long-run Performance Following Dividend Initiations and Resumptions: Underreaction or Product of Chance?

We examine the long-term stock performance following dividend initiations and resumptions from 1927 to 1998. We show that postannouncement abnormal returns are significantly positive for equally weighted calendar time portfolios, but become insignificant when the portfolios are value weighted. Moreo...

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Veröffentlicht in:	The Journal of finance (New York) 2002-04, Vol.57 (2), p.871-900
Hauptverfasser:	Boehme, Rodney D., Sorescu, Sorin M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Business structures Dividends Financial portfolios Investment risk Investors Long term Portfolio performance Predisposing factors Price momentum Rates of return Regression analysis Statistical significance Stock dividends Stock prices Studies
Online-Zugang:	Volltext
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