[PDF] Top 20 Dividend & Repurchase Disclosures and their Effect on Cumulative Abnormal Returns
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Dividend & Repurchase Disclosures and their Effect on Cumulative Abnormal Returns
... to dividend policy in a perfect and rational ...to dividend changes because these changes might signal provisions of future earnings to ...of dividend theory, argues firms to be hesitant to degrade ... See full document
12
Effect of Capital Structure on Cumulative Abnormal Returns in the Companies Listed in T.S.E
... a confidence level of 99 percent. The can be said is linear regression model. The most effective variables are in the model. First, financial leverage, Secondly Beta and afterwards is price relative to book value of ... See full document
9
Deviation from Optimal Level of Cash Holdings and Cumulative Abnormal Returns
... significant effect on optimal level of cash holdings which is contradicts with Oler and Picconi ...significant effect on optimal level of cash which is contradicts with Opler et ...of dividend shows ... See full document
9
The Effect of Regulation on the Relationship between Earnings and Stock Returns
... market returns and the evolution of this relation through ...the cumulative abnormal returns of each portfolio in event time relative the earnings announcement month, beginning 11 months prior ... See full document
17
Analysis of Market Effect and Influencing Factors of “Replace Business Tax with VAT” —Evidence from Listed Companies in the Financial Industry
... the abnormal return of the average stock price of the sample companies is only ...average cumulative abnormal return ...average abnormal returns (1.17%) and significant positive ... See full document
9
The economic cost of terrorism and natural disasters: A deeper analysis of the financial market markets of Pakistan
... negative effect in response of the happening of events on the event ...lesser effect in response to the number of terror attacks on the event ...examined cumulative abnormal returns ... See full document
74
Driven to distraction: Extraneous events and underreaction to earnings news
... the effect of the number of related and unrelated announcements on the 2-day announcement cumulative abnormal returns (CAR[0,1]) and the 60-day post-announcement cumulative ... See full document
42
Market Reaction To Dividend Initiation Announcements on the Ghana Stock Exchange: The Case of Industrial Analysis
... as dividend initiation ...initiated dividend payment, 16 firms registered positive cumulative abnormal returns (CAR) for the event window -5 +5 representing ...55.17%. Dividend ... See full document
11
Market Reaction to Actual Share Repurchase in Malaysia
... the effect of firm size on abnormal returns during share ...size effect does exist: small firms show a greater reaction than large ...the repurchase signal. Early evidence on the size ... See full document
20
Shareholder wealth effects of seasoned share issues in New Zealand : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University
... average abnormal return of ...ex-date returns. The abnormal return is significant at the 1 percent level using the Patell ( 1 974) and rank tests and at the 5 percent level using the Boehmer et ...in ... See full document
164
Dividend reductions and signaling in an imputation environment
... the dividend signaling ...in dividend policy convey credible signals regarding the future prospects of the ...that dividend changes signal future prospects, several studies (Penman 1983, DeAngelo, ... See full document
36
Currency Value
... excess returns and Sharpe Ratios for all portfolios, we still find the same general pattern in portfolio returns as in our benchmark analyses above: Portfolios based on raw value signals (RER) have clearly ... See full document
54
Asymmetric Information and Payout Policy: Dividend or Share Repurchase
... the repurchase rather than the ...a repurchase program conveys good news for the investors concerning any possible undervaluation of the company's ...announce repurchase plans when the firms are ... See full document
9
The Effect of Equity Returns of Shares Holders and Firm Size On Abnormal Returns On In IPO
... One of limitations of this research is that we suppose economical factors as constant, such as the rate of inflation which if this factor interferes, it causes changes in results. In this study, to estimate ... See full document
10
Stock Market Reactions to Announcements of Board of Director Appointments: Evidence from Italy
... significant cumulative abnormal ...negative abnormal returns, the authors cannot attribute these results to a single event, and in particular it is not clear which of the events take ... See full document
31
Buybacks versus Ordinary Dividends: Marginal Investor Reactions to Cash return Announcements
... that effect is provided by Chetty and Saez (2005) for the USA where dividends have traditionally been taxed at both the company and shareholder levels (double taxation), causing capital gains to enjoy a ... See full document
23
The impact of the global financial crisis on the comparative value relevance of GAAP versus non GAAP earnings
... I adopt the Ohison 1995; 1999 valuation model to test value relevance and a cumulative abnormal returns model to test the information content of these alternative earnings measures.. I s[r] ... See full document
307
Stolper, Tim B. M. (2017): Essays on the fight against offshore tax evasion. Dissertation, LMU München: Volkswirtschaftliche Fakultät
... The cumulative abnormal return over four days was as small as ...sizeable abnormal drop in the stock prices of Swiss ...the abnormal performance of the Swiss Market Index, a major index for ... See full document
104
Determinants of share returns following repurchase announcements in China
... estimate abnormal returns (Fama, 1998; Gong, ...long-term abnormal returns (Jaffe, 1974; Asquith et ...observed returns to the control portfo- lio have approximately the same beta as ... See full document
15
Overreaction Effect in the Tunisian Stock Market
... overreaction effect Many authors ...excess returns realized by the loser portfolios come from ...excess returns of the loser portfolios are not realized in January * ... See full document
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