Dividend Policy: Clientele Effects and Signalling Model Literature Review Sharon Theresia 17132233 Corporate Finance 307 Singapore Campus Abstract Two of the most influential dividend policies are being reviewed and compared. in this paper‚ clientele effects and signalling model are two chosen policies. Findings implied that clientele is shaped by tax preferences of shareholders which in the end will determine companies’ ideal dividend policies. It is also believed that amount of paid dividend
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VARIABLES ON STOCK PRICES IN NIGERIA: AN ECONOMETRIC ANALYSIS UCHE‚ GEORGE EWA 2011 IMPACT OF MACROECONOMIC VARIABLES ON STOCK PRICES IN NIGERIA: AN ECONOMETRIC ANALYSIS UCHE‚ GEORGE EWA 2007/147949 Being a research project submitted to the Department of Economics‚ in partial fulfillment of the requirements for the award of a Bachelor of Science Degree in Economics. AUGUST‚ 2011 i APPROVAL PAGE This research work on the topic‚ “IMPACT OF MACROECONOMIC VARIABLES ON STOCK PRICES IN NIGERIA:
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University of Sydney 1 Dividend Policy 2 This Lecture PART I – Dividend Fundamentals • • • • What is Dividend Policy? Institutional Features of Dividends Types of Dividend Policies Trends in Dividend Policies PART 2 – Is There An Optimal Dividend Policy? • Dividend Policy is Irrelevant • Dividend Policy is Relevant PART 3 – Alternatives to Dividends • Share Buy-Backs • Dividend Reinvestment Plans (DRPs) 3 What is Dividend Policy? Definition • Dividend policy refers to the decision
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Stock Prices and the Publication of Second-Hand Information Author(s): Peter Lloyd Davies and Michael Canes Reviewed work(s): Source: The Journal of Business‚ Vol. 51‚ No. 1 (Jan.‚ 1978)‚ pp. 43-56 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/2352617 . Accessed: 25/02/2013 12:03 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit
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help management must decide on the form of the dividend distribution‚ generally as cash dividends or via a share buyback. Various factors may be taken into consideration: where shareholders must pay tax on dividends‚ firms may elect to retain earnings or to perform a stock buyback‚ in both cases increasing the value of shares outstanding. Alternatively‚ some companies will pay "dividends" from stock rather than in cash. The purpose of an optimal dividend policy should be to maximize shareholders’
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paper investigates the reaction on stock prices after the announcement of related news. Specifically‚ the paper aims at finding whether the stock overreaction to such news is predictive or not. Using the empirical test‚ the paper was preformed by obtaining monthly return for 85 consecutives periods. The findings of this paper are: first‚ the overreaction effect is larger for losers’’ firms than winners‚ knowing that such effect is asymmetric. Second‚ most firms realize excess return on January‚ “seasonality
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Introduction A dividend is termed as a portion of a firm’s earnings that is returned to its shareholders. Dividends offer a further motif for investors to hold or even increase their investments. A lot of companies‚ mature or young‚ large or small‚ pay stable dividend. It is true that high dividend yield is important for current investors because it indicates‚ to some degree‚ a firm’s financial well being‚ but paying 100% of its earnings as dividend is not financially wise. Instead of paying dividends‚ fluid
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ASSIGNMENT ON Analysis of financial statement using ratio analysis of Power & Fuel Sector Submitted To: Ms. Rumana Ahmed Assistant Professors Department of Accounting & Information Systems Faculty of Business Studies Univeristy of Dhaka Submitted By A.H.A Elahi Rumi…….11221032 Md.Shahidur Rahman…11221049 Md.Nuruzzaman……….10915052 Faysal Ahmed………….11120029 Md.Lear Hossain……….11222052 Shovan Ahmed…………11222012 Program: MBA (Evening) Date of submission: February 5‚
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An Empirical Analysis of Dividend Payout Policy Indian Corporate ABSTRACT In the present paper an attempt has been made to assess the dividend payout policies of Indian Companies. For the purpose of study BSE Sensex -30 companies have been selected as sample for the study. To study impact of profitability‚ liquidity and size of business on dividend payout regression analysis were carried out. An attempt has also been made to calculate estimated dividend payout based on regression results
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CHAPTER 13 DIVIDEND POLICY L E A R N I N G LG1 LG2 LG3 Understand cash dividend payment procedures and the role of dividend reinvestment plans. Describe the residual theory of dividends and the key arguments with regard to dividend irrelevance and relevance. Discuss the key factors involved in formulating a dividend policy. G O A L S LG4 Review and evaluate the three basic types of dividend policies. LG5 Evaluate stock dividends from accounting‚ shareholder
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