What drives dividend smoothing? A meta regression analysis of the Lintner model
نویسندگان
چکیده
منابع مشابه
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The relative predictability of returns and dividends is a central issue because it forms the paradigm to interpret asset price variation. A little studied question is how dividend smoothing, as a choice of corporate policy, affects predictability. We show that even if dividends are supposed to be predictable without smoothing, dividend smoothing can bury this predictability. Because aggregate d...
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ژورنال
عنوان ژورنال: International Review of Financial Analysis
سال: 2019
ISSN: 1057-5219
DOI: 10.1016/j.irfa.2018.11.011