股利政策市场效应的实证分析被引量：2

An Empirical Analysis on the Market Effect of Dividend Policy

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摘要采用超额收益法对深圳和上海股票市场的股利政策进行了实证研究,并探析了不同类型股利的市场效应及投资者行为。实证结果表明,投资者对现金股利的欢迎尤其是对连续现金股利偏好和对不分配股利的漠视效应。 In this paper, the authors empirically analyzed the dividend policy of Shenzhen and Shanghai stock markets by the method of Cumulative Abnormal Return （CAR）, and studied the market effect of dividend policy and the investors＇ behavior to the different form of dividend policy. The result indicates that investors have an inclination for the cash dividend, in particular for the continual cash dividend, but ignore the effect of no-cash dividend.

作者向锐李琪琦

机构地区西南财经大学会计学院

出处《石家庄经济学院学报》 2006年第1期62-68,共7页 Journal of Shijiazhuang University of Economics

关键词股利政策市场效应实证分析 dividend policy market effect empirical analysis

分类号 F830.91 [经济管理—金融学]

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参考文献8

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