What drives special dividend announcements?: An examination of macro perspectives
This paper investigates macro-level explanations for why firms pay special dividends. The evidence shows that both market conditions and stages of the business cycle affect the propensity and abnormal returns of special dividend announcements. However, business cycle variations have economically lar...
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| Format: | Conference Paper |
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Financial Management
2012
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| Online Access: | http://www.fma.org/Istanbul/IstanbulProgram.htm http://hdl.handle.net/20.500.11937/22569 |