Rational Expectations, Information Signalling and Dividend Adjustment to Permanent Earning

• Main Authors: WU, Chunchi, Kao, C.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 1994
• 主題: Business
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/804

We propose a rational signalling model to investigate the information content of dividends. The model provides a direct test on the relation between unexpected dividend and earnings changes. In identifying the component of unexpected dividend changes, we suggest an expectations framework that accoun...