Can we predict dividend cuts?


I examine the predictability of dividend cuts based on the time interval between dividend announcement dates using a large dataset of US firms from 1971 to 2014. The longer the time interval between dividend announcements, the larger the probability of a cut in the dividend per share, consistent with the view that firms delay the release of bad news.

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Divisions: Aston Business School
Additional Information: © 2016, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International
Uncontrolled Keywords: dividend policy,dividend dates,signalling theory,asymmetric information,US capital market,Economics and Econometrics,Finance
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Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
PURE Output Type: Article
Published Date: 2016-09
Published Online Date: 2016-07-22
Accepted Date: 2016-07-15
Submitted Date: 2016-05-03
Authors: Onali, Enrico ( 0000-0003-3723-2078)

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