Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/94397
DC Field | Value | Language |
---|---|---|
dc.contributor | School of Accounting and Finance | en_US |
dc.creator | Hameed, A | en_US |
dc.creator | Xie, J | en_US |
dc.date.accessioned | 2022-08-15T07:10:58Z | - |
dc.date.available | 2022-08-15T07:10:58Z | - |
dc.identifier.issn | 0304-405X | en_US |
dc.identifier.uri | http://hdl.handle.net/10397/94397 | - |
dc.language.iso | en | en_US |
dc.publisher | Elsevier | en_US |
dc.rights | © 2018 Elsevier B.V. All rights reserved. | en_US |
dc.rights | © 2018. This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/ | en_US |
dc.rights | The following publication Hameed, A., & Xie, J. (2019). Preference for dividends and return comovement. Journal of Financial Economics, 132(1), 103-125 is available at https://doi.org/10.1016/j.jfineco.2018.09.012 | en_US |
dc.subject | Comovement | en_US |
dc.subject | Dividend | en_US |
dc.subject | Dividend clientele | en_US |
dc.subject | Style investing | en_US |
dc.title | Preference for dividends and return comovement | en_US |
dc.type | Journal/Magazine Article | en_US |
dc.identifier.spage | 103 | en_US |
dc.identifier.epage | 125 | en_US |
dc.identifier.volume | 132 | en_US |
dc.identifier.issue | 1 | en_US |
dc.identifier.doi | 10.1016/j.jfineco.2018.09.012 | en_US |
dcterms.abstract | Stocks that initiate dividends tend to comove more with other dividend-paying stocks and comove less with non-dividend payers. This is also true for: (a) dividend initiations that are motivated by the exogenous 2003 dividend tax cut; and (b) the cash dividend share class of Citizens Utilities (relative to its stock dividend class). We find that flows to dividend prone (averse) mutual funds increase the comovement among dividend-paying (non-dividend paying) stocks. Overall, the evidence supports the proposition that the trading of pro-dividend (dividend-averse) clienteles induces an extra factor in dividend payers (non-payers), beyond those associated with changes in common factors. | en_US |
dcterms.accessRights | open access | en_US |
dcterms.bibliographicCitation | Journal of financial economics, Apr. 2019, v. 132, no. 1, p. 103-125 | en_US |
dcterms.isPartOf | Journal of financial economics | en_US |
dcterms.issued | 2019-04 | - |
dc.identifier.scopus | 2-s2.0-85054446007 | - |
dc.description.validate | 202208 bcfc | en_US |
dc.description.oa | Accepted Manuscript | en_US |
dc.identifier.FolderNumber | AF-0101 | - |
dc.description.fundingSource | Others | en_US |
dc.description.fundingText | Hong Kong PolyU (Start-up research fund) | en_US |
dc.description.pubStatus | Published | en_US |
dc.identifier.OPUS | 54443713 | - |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Xie_Preference_Dividends_Return.pdf | Pre-Published version | 1.26 MB | Adobe PDF | View/Open |
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