Asymmetric price reactions to dividend announcements: Always irrational?
Sign Up to like & getrecommendations! Published in 2019 at "Economics Letters"
DOI: 10.1016/j.econlet.2019.108713
Abstract: We demonstrate analytically that markets tend to react stronger to announcements of dividend cuts vs. increases when dividend payout costs are relatively low. This asymmetry prevails when investors are entirely rational, in contrast to Baker’s… read more here.
Keywords: asymmetric price; dividend announcements; reactions dividend; price reactions ... See more keywords
Company stock price reactions to the 2016 election shock: Trump, taxes, and trade
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2018.06.013
Abstract: The election of Donald J. Trump as the 45th President of the United States of America on 11/8/2016 came as a surprise. Markets responded swiftly and decisively. This note investigates both the initial stock market… read more here.
Keywords: taxes trade; price reactions; stock price; stock ... See more keywords
Do Stock Price Reactions to Public Information Reflect its Long-run Effect on the Firms’ Fundamental Value? The Case of an Emerging Market†
Sign Up to like & getrecommendations! Published in 2018 at "Global Economic Review"
DOI: 10.1080/1226508x.2018.1424011
Abstract: Abstract This paper examines the relationship between the cumulative abnormal returns (CARs) induced by various events and long-term operating performances in the post-event period. We gather six events from KRX Disclosure System over 2000–2011 and… read more here.
Keywords: price reactions; fundamental value; stock; stock price ... See more keywords