Costly Dividend Signaling: The Case of Loss Firms with Negative Cash Flows
We examine the dividend-signaling hypothesis in a sample of firms for which dividend increases are particularly costly, namely loss firms with negative cash flows. When compared to loss firms with positive cash flows, we find the predictive power of dividend inc...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | en_US |
| Published: |
2004
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| Subjects: | |
| Online Access: | http://hdl.handle.net/1721.1/7396 |