Corporate Financial Policy, Information, and Market Expectations: An Empirical Investigation of Dividends

A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity

1980 • 25,774 citations

Corporate financing and investment decisions when firms have information that investors do not have

1984 • 18,167 citations

Determinants of corporate borrowing

1977 • 13,054 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

The Determination of Financial Structure: The Incentive-Signalling Approach

1977 • 3,814 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

The Adjustment of Stock Prices to New Information

1969 • 3,289 citations

The Adjustment of Stock Prices to New Information

2003 • 3,268 citations

Dividend Policy under Asymmetric Information

1985 • 3,145 citations

Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy

1979 • 2,777 citations

Dividends, Dilution, and Taxes: A Signalling Equilibrium

1985 • 1,404 citations

Quarterly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical Analysis

1980 • 1,082 citations

Analysts' forecasts as earnings expectations

1988 • 1,063 citations

Common stock repurchases and market signalling

1981 • 1,054 citations

The Impact of Initiating Dividend Payments on Shareholders' Wealth

1983 • 835 citations

The Information Content of Dividends

1973 • 636 citations

DIVIDEND ANNOUNCEMENTS, SECURITY PERFORMANCE, AND CAPITAL MARKET EFFICIENCY

1972 • 624 citations

Financial analysts' forecasts of earnings

1982 • 608 citations

The valuation effects of stock splits and stock dividends

1984 • 605 citations

The effects of capital structure change on security prices

1980 • 541 citations

THE SUPERIORITY OF ANALYST FORECASTS AS MEASURES OF EXPECTATIONS: EVIDENCE FROM EARNINGS

1978 • 462 citations

Dividend information, stock returns and market efficiency-II

1978 • 435 citations

A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends

1987 • 429 citations

Shareholder wealth, information signaling and the specially designated dividend

1983 • 352 citations

Nondissipative Signaling Structures and Dividend Policy

1980 • 287 citations

Corporate Signaling, External Accounting, and Capital Market Equilibrium: Evidence on Dividends, Income, and Extraordinary Items

1978 • 281 citations

Professional Expectations: Accuracy and Diagnosis of Errors

1984 • 277 citations

Wealth redistributions or changes in firm value

1984 • 264 citations

Convertible calls and security returns

1981 • 221 citations

Earnings and Dividend Announcements: Is There a Corroboration Effect?

1984 • 207 citations

A Sequential Signalling Model of Convertible Debt Call Policy

1985 • 180 citations

Market rationality and dividend announcements

1985 • 143 citations

On the Informational Content of Dividends

1976 • 121 citations

Empirical Evidence on Dividends as a Signal of Firm Value

1982 • 115 citations

The Impact of Dividend and Earnings Announcements: A Reconciliation

1976 • 98 citations

Convertible call policies

1987 • 91 citations

External Financing and Liquidity

1984 • 65 citations

A heteroscedasticity-consistent covariance matrix estimator for time series regressions

1983 • 54 citations

Earnings Expectations and Capital Restructuring: The Case of Equity-for-Debt Swaps

1988 • 27 citations

An examination of two-step estimators for models with lagged dependent variables and autocorrelated errors

1983 • 13 citations

Corporate financial decisions and future earnings performance: the case of initiating dividends

2011 • 8 citations