A re-examination of the effectiveness of dividend policy
Subtitle: a pooled time-series and cross-sectional data approach
By: Cheng F. Lee, Hui-shyong Chang
Contributors: Chang, Hui-shyong; University of Illinois at Urbana-Champaign. College of Commerce and Business Administration
Series: Faculty working papers / University of Illinois at Urbana-Champaign, College of Commerce and Business Administration -- no. 558; Faculty working papers -- no. 558.
Publisher: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign
Published: 1979
Place of publication: [Urbana, Ill.]
Language: eng
Number of pages: 19
Subjects: Dividends; Stocks; Finance; Corporations
Description: "Using the most generalized specifications and estimation models, the possible impacts of dividend policy for the industrial firms are re-examined in accordance with the capital asset pricing theory developed by Sharpe and Mossin. It is found that the dividend policy generally affects the average rates of return for high pay-out instead of low pay-out stocks."
Notes: Includes bibliographical references (p. 15-16).