Abstract
I examine the predictability of dividend cuts based on the time interval between dividend announcement dates using a large dataset of US firms from 1971 to 2014. The longer the time interval between dividend announcements, the larger the probability of a cut in the dividend per share, consistent with the view that firms delay the release of bad news.
| Original language | English |
|---|---|
| Pages (from-to) | 71-76 |
| Number of pages | 6 |
| Journal | Economics Letters |
| Volume | 146 |
| DOIs | |
| Publication status | Published - 1 Sept 2016 |
Bibliographical note
Publisher Copyright:© 2016 Elsevier B.V.
Research Groups and Themes
- AF Corporate Finance
Keywords
- Asymmetric information
- Dividend dates
- Dividend policy
- Signalling theory
- US capital market
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