Description |
1 online resource (xxv, 137 pages) : illustrations |
Series |
Quantitatives Controlling |
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Gabler research. Quantitatives controlling.
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Contents |
The Dividend Irrelevance Theorem and Competing Dividend Theories -- The Incremental Importance of Dividend Changes in Signaling Earnings Persistence -- A Theoretical Analysis -- Dividend Changes Conveying Earnings Persistence Conditional on Past Time-Series Persistence -- An Empirical Analysis -- The Incremental Importance of Confirming Dividend Changes in Signaling Earnings Persistence Conditional on Earnings Quality -- Concluding Remarks |
Summary |
The stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian Müller assumes that firm's dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While his theoretical and empirical analyses generally imply that dividend changes constitute informative, but imperfect information signals, he further identifies situations in which they are substantial to investors. Christian Müller's research comprehensively examines the informational role of dividend policy and provides new insights to the corresponding Bayesian investor learning process |
Notes |
Ph. D. University of Cologne 2013 |
Bibliography |
Includes bibliographical references |
Notes |
Foreword in German |
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Online resource; title from PDF title page (SpringerLink, viewed January 6, 2014) |
Subject |
Dividends -- Accounting.
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BUSINESS & ECONOMICS -- Finance.
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Science économique.
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Affaires.
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Dividends -- Accounting
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Genre/Form |
doctoral dissertations.
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masters theses.
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theses.
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dissertations.
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Academic theses
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Academic theses.
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Thèses et écrits académiques.
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Form |
Electronic book
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ISBN |
9783658044732 |
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365804473X |
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