Yes, dividends are disappearing: Worldwide evidence
نویسندگان
چکیده
منابع مشابه
Dividends Aren t Disappearing: Evidence from the UK
Despite a documented decline in the number of dividend payers in the UK it is found that aggregate real dividends paid by industrials actually increased between 1979 and 2000. This was attributed to the firms lost from the sample being generally small distributors of dividends whilst the growth in payments by large firms more than compensated for the effect of the former. As a result a concentr...
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We study the persistence over time of a set of well-known equity market anomalies in the cross-section of U.K. stocks. This market provides an excellent setting in which to study anomaly persistence as it is among the most developed and liquid in the world. We find strong evidence of diminished statistical significance for the return reversal effect, the momentum effect, and a number of other w...
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The effect of dividend taxes on dividend payments is a topic of considerable debate with repercussions for the cost of capital and investment. The traditional view of dividends suggests that dividend taxes lead to lower dividends, a higher cost of capital and so lower investment. In contrast, according to the new, or trapped equity, view, dividend taxes are neutral to dividend payout, the cost ...
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Recent redshift surveys have shown that the excess galaxies seen in faint galaxy number counts (above those expected given the local galaxy luminosity function) are not evolved giants at high redshifts, but low to moderate luminosity objects at more modest redshifts. This has led to the suggestion that there was once an additional population of dwarf galaxies which has since disappeared, ie. th...
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Dividends distribution of Chinese listed companies is irregular, and the level of dividends can’t match that of earnings persistence. This paper empirically investigates the relationship between dividends distribution, including payout policy and level of cash dividends, and earnings persistence. Different from current literature, this paper is the first to investigate the relationship between ...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2012
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2011.10.008