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- Publisher
- Wiley
- Copyright
- 1983 The American Finance Association
- ISSN
- 0022-1082
- eISSN
- 1540-6261
- DOI
- 10.1111/j.1540-6261.1983.tb02290.x
- Publisher site
- See Article on Publisher Site
Abstract
ABSTRACT This paper compares the properties of dividend announcements and management earnings forecasts as predictors of earnings and firm value. First, the two predictors are compared on the basis of their ability to predict earnings. Then the information they convey about firm value is assessed by comparison of the performance of investment strategies based on values of the two predictors. Finally, the effects of dividend announcements on stock prices are considered.
Journal
The Journal of Finance – Wiley
Published: Sep 1, 1983