Abstract We examine whether dividends serve as substitutes or complements to accounting information in firm valuation. Consistent with substituting for earnings information, we find that dividend paying firms have 11%–15% lower response coefficients (ERCs) than non-payers. more substitution when the provides a stronger signal of permanent earnings: is less likely cut dividend, fund out rather c...

The purpose of this study is to empirically examine the effect operating cash flow and earnings on stock returns dividends/cash dividends. This uses independent variables, namely profit, dependent variable research sample was taken from basic chemical industrial companies listed Indonesian exchange. Sampling done by using purposive sampling method. data collected secondary official website Indo...

This study empirically examines the relationship between corporate sustainable management (CSM) and dividend policy. Among various motivations related to dividends, this CSM policy based on agency signaling theory. After examining policy, we investigate whether belonging a large business group (chaebol group) has significant effect The analysis period is from 2011 2018, ESG ratings of Korea Cor...

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 ...

We report on a large number of laboratory market experiments demonstrating that a market bubble can be reduced under the following conditions: 1) a low initial liquidity level, i.e., less total cash than value of total shares, 2) deferred dividends, and 3) a bid–ask book that is open to traders. Conversely, a large bubble arises when the opposite conditions exist. The first part of the article ...