This paper suggests some of the ways in which corporate financial policy depends on the
role of non-investor stakeholders. The key to our analysis is recognizing that the firm sells its …

This paper measures the growth in open market stock repurchases and the manner in which
stock repurchases and dividends are used by US corporations. Stock repurchases and …

We study the signaling content of managers' dividend decisions for 145 NYSE firms whose
annual earnings decline after nine or more consecutive years of growth. Using a variety of …

Managers rarely devote to information disclosure the careful attention and thorough
planning accorded to other corporate activities, such as production, marketing, and finance …

We present a synthesis of academic research on corporate payout policy grounded in the
pioneering contributions of Lintner (1956) and Miller and Modigliani (1961). We conclude …

The informational role of strategic insider trading around corporate dividend announcements
is studied based on the efficient equilibrium in a signalling model with endogenous insider …

Kashif Imran1 The return on investment can be divided in capital gain and dividend payouts.
It is a difficult task for management to allocate a sufficient amount in both segments …

This study investigates the market reaction to cash dividend announcements for the period
2000–2004 employing data from the Athens Stock Exchange (ASE). In particular, the paper …

Investigates the stock market response to interactive dividend and earnings announcements
by a sample of 620 UK companies over the period January to June 1991. First, examines the …

I document the effect of growth opportunities on the stock price response to security
offerings. For equity offerings, the stock price decline for mature firms exceeds the decline for …