Advanced search
Publication Cover
Applied Economics Letters Volume 21, 2014 - Issue 7
Submit an article Journal homepage
408
Views
8
CrossRef citations to date
0
Altmetric
Article

Dividend changes and information about future profitability: an application of difference GMM

Tai-Yuan ChenDepartment of Banking and Finance, Kainan University, Taoyuan County33857, TaiwanCorrespondence[email protected]
&
Lie-Jane KaoDepartment of Banking and Finance, Kainan University, Taoyuan County33857, Taiwan
Pages 505-508 | Published online: 17 Jan 2014

References

  • Aharony, J. and Dotan, A. (1994) Regular dividend announcements and future unexpected earnings: an empirical analysis, Financial Review, 29, 125.
  • Arellano, M. and Bond, S. (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, The Review of Economic Studies, 58, 277–97.
  • Benartzi, S., Michaely, R. and Thaler, R. H. (1997) Do changes in dividends signal the future or the past?, Journal of Finance, 52, 1007–34.
  • Fama, E. F. and French, K. R. (2002) Testing trade-off and pecking order predictions about dividends and debt, The Review of Financial Studies, 15, 1–33.
  • Fama, E. F. and MacBeth, J. D. (1973) Risk, return, and equilibrium: empirical tests, Journal of Political Economy, 81, 607–36.
  • Grullon, G., Michaely, R., Benartzi, S. et al. (2005) Dividend changes do not signal changes in future profitability, Journal of Business, 78, 1659–82.
  • Healy, P. M. and Palepu, K. G. (1988) Earnings information conveyed by dividend initiations and omissions, Journal of Financial Economics, 21, 149–175.
  • Ho, S.-J. K. and Wu, C. (2001) The earnings information content of dividend initiations and omissions, Journal of Business Finance and Accounting, 28, 963–77.
  • Newey, W. K. and West, K. D. (1987) A simple, positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix, Econometrica, 55, 703–8.
  • Nissim, D. and Ziv, A. (2001) Dividend changes and future profitability, Journal of Finance, 56, 2111–33.
  • Petersen, M. A. (2009) Estimating standard errors in finance panel data sets: comparing approaches, Review of Financial Studies, 22, 435–80.
  • Roodman, D. (2009) How to do xtabond2: an introduction to difference and system GMM in stata, The Stata Journal, 9, 86–136.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Order Reprints Request Corporate Permissions

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

Request Academic Permissions

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.