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The intra-industry impact of special dividend announcements: contagion versus competition

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  • Balachandran, Balasingham
  • Faff, Robert
  • Nguyen, Tuan Anh

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  • Balachandran, Balasingham & Faff, Robert & Nguyen, Tuan Anh, 2004. "The intra-industry impact of special dividend announcements: contagion versus competition," Journal of Multinational Financial Management, Elsevier, vol. 14(4-5), pages 369-385.
  • Handle: RePEc:eee:mulfin:v:14:y:2004:i:4-5:p:369-385
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    References listed on IDEAS

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    1. Miller, Merton H & Rock, Kevin, 1985. " Dividend Policy under Asymmetric Information," Journal of Finance, American Finance Association, vol. 40(4), pages 1031-1051, September.
    2. Impson, Michael, 2000. "Contagion Effects of Dividend Reduction or Omission Announcements in the Electric Utility Industry," The Financial Review, Eastern Finance Association, vol. 35(1), pages 121-136, February.
    3. Hertzel, Michael G, 1991. " The Effects of Stock Repurchases on Rival Firms," Journal of Finance, American Finance Association, vol. 46(2), pages 707-716, June.
    4. Kathryn L. Dewenter & Vincent A. Warther, 1998. "Dividends, Asymmetric Information, and Agency Conflicts: Evidence from a Comparison of the Dividend Policies of Japanese and U.S. Firms," Journal of Finance, American Finance Association, vol. 53(3), pages 879-904, June.
    5. Balachandran, Balasingham & Faff, Robert & Tanner, Sally, 2004. "Further evidence on the announcement effect of bonus shares in an imputation tax setting," Global Finance Journal, Elsevier, vol. 15(2), pages 147-170, August.
    6. Gayle R. Erwin & James M. Miller, 1998. "The Intra-Industry Effects Of Open Market Share Repurchases: Contagion Or Competitive?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 21(4), pages 389-406, December.
    7. Dimson, Elroy, 1979. "Risk measurement when shares are subject to infrequent trading," Journal of Financial Economics, Elsevier, vol. 7(2), pages 197-226, June.
    8. Balasingham Balachandran & Tuan Anh Nguyen, 2004. "Signalling power of special dividends in an imputation environment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 44(3), pages 277-297.
    9. Firth, Michael, 1996. "Dividend Changes, Abnormal Returns, and Intra-lndustry Firm Valuations," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 31(02), pages 189-211, June.
    10. Otchere, Isaac & Chan, Janus, 2003. "Intra-industry effects of bank privatization: A clinical analysis of the privatization of the Commonwealth Bank of Australia," Journal of Banking & Finance, Elsevier, vol. 27(5), pages 949-975, May.
    11. John, Kose & Williams, Joseph, 1985. " Dividends, Dilution, and Taxes: A Signalling Equilibrium," Journal of Finance, American Finance Association, vol. 40(4), pages 1053-1070, September.
    12. Boehmer, Ekkehart & Masumeci, Jim & Poulsen, Annette B., 1991. "Event-study methodology under conditions of event-induced variance," Journal of Financial Economics, Elsevier, vol. 30(2), pages 253-272, December.
    13. Kohers, Ninon, 1999. "The Industry-Wide Implications of Dividend Omission and Initiation Announcements and the Determinants of Information Transfer," The Financial Review, Eastern Finance Association, vol. 34(1), pages 137-158, February.
    14. DeAngelo, Harry & DeAngelo, Linda & Skinner, Douglas J., 2000. "Special dividends and the evolution of dividend signaling," Journal of Financial Economics, Elsevier, vol. 57(3), pages 309-354, September.
    15. Jayaraman, Narayanan & Shastri, Kuldeep, 1988. "The Valuation Impacts of Specially Designated Dividends," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 23(03), pages 301-312, September.
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    Cited by:

    1. Beladi, Hamid & Chao, Chi Chur & Hu, May, 2016. "The Christmas effect—Special dividend announcements," International Review of Financial Analysis, Elsevier, vol. 43(C), pages 15-30.

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