Dividend Smoothing and Firm Valuation

We examine the relationship between dividend smoothing and firm valuation across 21 countries using several empirical methods and smoothing measures. Our main results show that dividends are capitalized at significantly larger values for high-smoothing firms than for low-smoothing firms. We also fin...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Journal of financial and quantitative analysis 2022-06, Vol.57 (4), p.1621-1647
Hauptverfasser:	Brockman, Paul, Hanousek, Jan, Tresl, Jiri, Unlu, Emre
Format:	Artikel
Sprache:	eng
Schlagworte:	Acquisitions & mergers Attachment Business valuation Dividends Extraction Premiums Stocks Valuation
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!