Confirming Dividend Changes and the Non-Monotonic Investor Revision of Earnings Persistence

by Christian Müller

The stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian M ller assumes that firm's dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While...

• Format: Paperback
• Language: English
• ISBN: 3658044721
• ISBN13: 9783658044725
• Release Date: December 2013
• Publisher: Springer Gabler
• Length: 137 Pages
• Weight: 0.49 lbs.
• Dimensions: 0.4" x 5.8" x 8.3"