Dividends as Reference Points: A Behavioral Signaling Approach
收藏NBER2012-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18242
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资源简介：
We outline a dividend signaling approach in which rational managers signal firm strength to investors who are loss averse to reductions in dividends relative to the reference point set by prior dividends. Managers with strong but unobservable cash earnings separate themselves by paying high
提供机构：
美国国家经济研究局
创建时间：
2012-07-01
