A further empirical investigation of the dividend adjustment process (Q1820663): Difference between revisions
From MaRDI portal
Set profile property. |
Set OpenAlex properties. |
||
Property / full work available at URL | |||
Property / full work available at URL: https://doi.org/10.1016/0304-4076(87)90028-5 / rank | |||
Normal rank | |||
Property / OpenAlex ID | |||
Property / OpenAlex ID: W2086928377 / rank | |||
Normal rank |
Revision as of 00:55, 20 March 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | A further empirical investigation of the dividend adjustment process |
scientific article |
Statements
A further empirical investigation of the dividend adjustment process (English)
0 references
1987
0 references
This paper analyzes the dividend adjustment process in the presence of cost of adjustment and information uncertainty. It proposes an integrated model consistent with the practical decision process to characterize the dividend adjustment process. It is analytically demonstrated that the residual theory, partial adjustment and adaptive expectations models are all special cases of the integrated model specified in this paper. Marquardt's nonlinear regression method is adopted to estimate the parameters of the integrated model, using both quarterly and annual data of earnings and dividends from a randomly selected sample. Empirical results show that the integrated model better explains the firm's dividend decision process.
0 references
dividend adjustment process
0 references
nonlinear regression
0 references