What drives special dividend announcements?: An examination of macro perspectives

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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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Bibliographic Details
Main Author:	Hu, May
Other Authors:	Michael C Jensen
Format:	Conference Paper
Published:	Financial Management 2012
Online Access:	http://www.fma.org/Istanbul/IstanbulProgram.htm http://hdl.handle.net/20.500.11937/22569

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