Dividend changes and information transfer
121 p.
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Published: |
2014
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| Online Access: | http://hdl.handle.net/10356/57853 |
| _version_ | 1826124634732363776 |
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| author | Michelle Lynda Carvalho, Kuah Hwee Ling |
| author2 | Kang Choong Seok, Joseph |
| author_facet | Kang Choong Seok, Joseph Michelle Lynda Carvalho, Kuah Hwee Ling |
| author_sort | Michelle Lynda Carvalho, Kuah Hwee Ling |
| collection | NTU |
| description | 121 p. |
| first_indexed | 2024-10-01T06:23:55Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/57853 |
| institution | Nanyang Technological University |
| last_indexed | 2024-10-01T06:23:55Z |
| publishDate | 2014 |
| record_format | dspace |
| spelling | ntu-10356/578532023-05-19T06:16:14Z Dividend changes and information transfer Michelle Lynda Carvalho, Kuah Hwee Ling Kang Choong Seok, Joseph Nanyang Business School DRNTU::Business::Finance::Dividends 121 p. A topic that has continuously aroused interest and controversy in corporate financial theory is the effect of dividend policy. Previous empirical research has established that dividend changes are associated with significant abnormal returns. This association is rationalised on that basis that dividend announcements acts as a signal of favourable future earnings. Another body of research established the existence of intra-industry transfers of information where news about one firm is extrapolated to other companies in the same industry. Earnings information transfer have been examined to be positive in nature where good news of a company leads to increase in stock price of rival companies. Linking the concepts of signaling effect and information transfer of dividend announcements, tests have been constructed to test whether the dividend announcements of one company will affect the stock performance of other firms in the same industry. Results from studies have shown that there is some small positive information transfer. However, the magnitude of information transfer do not solely depend on the degree of the dividend surprise. Other factors such as the recent dividend history of other companies, correlation of stock returns between dividend announcer and other companies also contribute to mitigate or magnify the effect. ACCOUNTANCY 2014-04-07T11:03:51Z 2014-04-07T11:03:51Z 1997 1997 Final Year Project (FYP) http://hdl.handle.net/10356/57853 Nanyang Technological University application/pdf |
| spellingShingle | DRNTU::Business::Finance::Dividends Michelle Lynda Carvalho, Kuah Hwee Ling Dividend changes and information transfer |
| title | Dividend changes and information transfer |
| title_full | Dividend changes and information transfer |
| title_fullStr | Dividend changes and information transfer |
| title_full_unstemmed | Dividend changes and information transfer |
| title_short | Dividend changes and information transfer |
| title_sort | dividend changes and information transfer |
| topic | DRNTU::Business::Finance::Dividends |
| url | http://hdl.handle.net/10356/57853 |
| work_keys_str_mv | AT michellelyndacarvalhokuahhweeling dividendchangesandinformationtransfer |