Do dividends signal future earnings in the Nordic stock markets?

Eva Liljeblom, Sabur Mollah, Patrik Rotter

Forskningsoutput: TidskriftsbidragArtikelVetenskapligPeer review

7 Citeringar (Scopus)

Sammanfattning

We study the informational content of dividends on three Nordic civil law markets, where other simultaneous but blurring motives for dividends may be weaker. Using aggregate data on real earnings per share and payout ratios, long time series from 1969 to 2010, and methodologies which address problems of endogeneity, non-stationarity and autocorrelation (including a vector error correction model approach), we find evidence on dividend signaling in Nordic markets. However, we also find heterogeneity in the relationship between dividends and earnings on markets similar in many respects, suggesting that even small variations in the institutional surroundings may be important for the results.
OriginalspråkEngelska
Referentgranskad vetenskaplig tidskriftReview of Quantitative Finance and Accounting
Volym44
Utgåva3
Sidor (från-till)493-511
Antal sidor19
ISSN0924-865X
DOI
StatusPublicerad - 2015
MoE-publikationstypA1 Originalartikel i en vetenskaplig tidskrift

Nyckelord

  • 512 Företagsekonomi
  • KOTA2013

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