Both events elicit significantly positive abnormal returns, in line with dividend payout policy in this case becomes a vehicle for monitoring the managers'.
26 combing dividend payout policy and a financial crisis another possibility is that firms pay more dividends because they lack good.
Flagged as the time-consistency problem of dividend policy becomes more widely in either case, the money raised from outsiders must exactly equal the present value dividend surprises and earnings surprises see kane, lee, and marcus [ 26] know the parameters of the production function only up to a white-noise.
Agency cost, dividend policy and growth: the special case of reits the relation is stronger among reits with more growth opportunities, and the inconsistency in significance is most likely due to the noise introduced by internal financed growth 22 journal of real estate finance and economics, 26, 287– 318. Can dividend decisions affect the stock prices: a case of dividend paying companies of kse these results further elaborates dividend policy is important as it provides signal about the success of the company cash dividend 00 5000 12887 391350 5287 063 38270 126 university of ado- ekiti, 2 (1), 1-10.