Using company dividend policy to predict future earnings and growth opportunities

by Chien, Ming-Jr

Abstract (Summary)
The purpose of the article is to analyze the relationship among dividend policy,future earnings and growth opportunities.And the results are below: 1.Total dividend and cash dividend can predict future earnings,but stock dividend can only reflect current earnings dividend and stock dividend are signaling effect,but I have a diffent result in cash dividend. Using MBA,MBE and E/P as substitute variables,it is contracting effect.But using R&D as a substitute variable,it is signaling effect.
Bibliographical Information:

Advisor:Jen-Jsung Huang; David Shyu; Henry Y. Lo

School:National Sun Yat-Sen University

School Location:China - Taiwan

Source Type:Master's Thesis

Keywords:contracting effect growth opportunity future earning dividend policy signaling


Date of Publication:06/07/2004

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