By H. Kent Baker(auth.)
Dividends And Dividend coverage
As a part of the Robert W. Kolb sequence in Finance, Dividends and Dividend coverage goals to be the fundamental advisor to dividends and their effect on shareholder price. matters touching on dividends and dividend coverage have constantly posed demanding situations to either teachers and pros. whereas everything to the dividend puzzle is probably not in position but, the knowledge discovered right here can help achieve an organization figuring out of this dynamic self-discipline.
Comprising twenty-eight chapters—contributed by means of either most sensible lecturers and monetary specialists within the field—this well-rounded source discusses every thing from company dividend judgements to the position behavioral finance performs in dividend coverage. alongside the way in which, you will achieve priceless insights into the heritage, tendencies, and determinants of dividends and dividend coverage, and realize the several ways corporations are taking in terms of dividends.
even if you are a pro monetary expert or simply starting your trip on this planet of finance, having a company knowing of the problems surrounding dividends and dividend coverage is now extra very important than ever. With this ebook as your advisor, you may be ready to take advantage of trained dividend-related judgements possible—even within the so much not easy monetary stipulations.
The Robert W. Kolb sequence in Finance is an exceptional resource of data devoted to crucial matters in sleek finance. each one ebook makes a speciality of a selected subject within the box of finance and comprises contributed chapters from either revered teachers and skilled monetary professionals.Content:
Chapter 1 Dividends and Dividend coverage: an summary (pages 1–19): H. Kent Baker
Chapter 2 The ancient Evolution of Dividends (pages 21–34): Erik Benrud
Chapter three traits in Dividends: Payers and Payouts (pages 35–54): Christian Andres, Andre Betzer, Luis Correia Da Silva and Marc Goergen
Chapter four components Influencing Dividends (pages 55–69): David Denis and Gohar Stepanyan
Chapter five Cross?Country Determinants of Payout coverage: eu agencies (pages 71–93): Franck Bancel, Nalinaksha Bhattacharyya and Usha R. Mittoo
Chapter 6 Dividend Irrelevance concept (pages 95–113): James S. Ang and Stephen J. Ciccone
Chapter 7 Residual Dividend coverage (pages 115–126): David M. Smith
Chapter eight Taxes and clients results (pages 127–144): Samir Saadi and Shantanu Dutta
Chapter nine business enterprise expenses and the loose money move speculation (pages 145–161): Tarun Mukherjee
Chapter 10 uneven info and Signaling thought (pages 163–177): Greg Filbeck
Chapter eleven Behavioral motives of Dividends (pages 179–199): Hersh Shefrin
Chapter 12 The enterprise lifestyles Cycle thought of Dividends (pages 201–213): Laarni T. Bulan and Narayanan Subramanian
Chapter thirteen The Catering conception of Dividends (pages 215–238): Margot De Rooij and Luc Renneboog
Chapter 14 inventory Repurchases: thought and facts, half 1 (pages 239–260): Jim Hsieh and Qinghai Wang
Chapter 15 inventory Repurchases: concept and proof, half 2 (pages 261–273): Jim Hsieh and Qinghai Wang
Chapter sixteen inventory Repurchases and Dividends: Trade?Offs and tendencies (pages 275–290): Bradford Cornell
Chapter 17 Beating the industry with proportion Buybacks (pages 291–306): Theo Vermaelen
Chapter 18 detailed Dividends (pages 307–323): Michael Gombola and Feng?Ying Liu
Chapter 19 inventory Splits, inventory Dividends, and opposite inventory Splits (pages 325–341): David Michayluk
Chapter 20 Dividend Reinvestment Plans (pages 343–361): Wei He
Chapter 21 money Dividends and inventory Repurchases (pages 363–383): Gary E. Powell
Chapter 22 inventory Splits, inventory Dividends, and Dividend Reinvestment Plans (pages 385–403): Halil Kiymaz
Chapter 23 Why person traders wish Dividends (pages 405–420): Ming Dong, Chris Robinson and Chris Veld
Chapter 24 Why agencies start Paying Dividends: worth, development, and lifestyles Cycle results (pages 421–445): Neil Fargher and Robert A. Weigand
Chapter 25 Dividend coverage and company Governance (pages 447–462): Shantanu Dutta and Samir Saadi
Chapter 26 Dividend coverage in Regulated Industries (pages 463–479): Ross Dickens
Chapter 27 Dividend coverage in an international viewpoint (pages 481–498): Marc Goergen and Luc Renneboog
Chapter 28 Dividend coverage in rising Markets (pages 499–525): P. C. Kumar and Michel A. gown
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Extra resources for Dividends and Dividend Policy
Investing in Purchasing Power. New York: Barron’s. Werner, Walter, and Steven Smith. 1991. Wall Street. Edinburgh: Edinburgh University Press. D. from the University of Virginia and is an associate clinical professor of ﬁnance at LeBow College of Business, Drexel University. In addition to having taught a wide variety of topics in ﬁnance around the world, he has published articles on multifarious subjects, including modeling competition in ﬁnancial markets, using ﬁnancial forecasts to price options, and teaching ﬁnance over the Internet.
30 Dividends and Dividend Policy: History, Trends, and Determinants The payout ratios increased by about 6 percent per year from 1948 to 1962, which is comparable to the 8 percent per year increase during the period from 1919 to 1929. The trends were fairly similar across ﬁrms and industries. The rapid rise in dividend payments is noteworthy given that the postwar trend in after-tax net proﬁts averaged only about 2 percent per year (Brittain, 1966). The Developing Research on Dividends In the years following World War II, researchers began devoting much attention to dividend policy.
Now, let’s begin our journey into one of the most intriguing topics of corporate ﬁnance—dividends and dividend policy. REFERENCES Ang, James S. 1987. “Do Dividends Matter? ” Monograph Series in Finance and Economics. Solomon Brothers Center for the Study of Financial Institutions and the Graduate School of Business Administration New York University. Baker, H. Kent, Gail E. Farrelly, and Richard B. Edelman. 1985. ” Financial Management 14:3, 78–84. Baker, H. Kent, Aaron L. Phillips, and Gary E.