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Research on the Dividend Policy of Listed Company and Fluctuation Effect of Stock Market

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Figure

Figure 1. Average abnormal price
Figure 1 shows the rule of variation of average abnormal price AARt curve with the change of time for all the stocks in the time window sample; The announcement of dividend policy has a negative impact on the stock price, and it is not significant within [
Figure 4 shows the rule of variation of accumulative average abnormal transaction volume CARt curve with the change of time for all the stocks in the time window sample; consistent with
Table 2. Significance test for accumulative average abnormal price

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