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About this product
- DescriptionThe stylized facts that firms pay and investors react to dividends disregard dividend neutrality. Taking on the perspective that informational asymmetries are the central determinant for dividend value relevance, Christian Muller assumes that firm's dividend decision conveys useful information to investors. He shows that investors use dividend changes to revise their a priori expectations about the persistence of a current earnings change. While his theoretical and empirical analyses generally imply that dividend changes constitute informative, but imperfect information signals, he further identifies situations in which they are substantial to investors. Christian Muller's research comprehensively examines the informational role of dividend policy and provides new insights to the corresponding Bayesian investor learning process.
- Author BiographyDr. Christian Muller received his doctoral degree from the University of Cologne under the supervision of Prof. Dr. Carsten Homburg (Department of Business Administration and Management Accounting).
- Author(s)Christian Mueller
- PublisherSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
- Date of Publication27/12/2013
- SubjectFinance & Accounting
- Series TitleQuantitatives Controlling
- Country of PublicationGermany
- ImprintSpringer Gabler
- Content Note8 black & white illustrations, 16 black & white tables, biography
- Weight224 g
- Width148 mm
- Height210 mm
- Spine10 mm
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