2016 Fiscal Year Final Research Report
Empirical Studies on the Effect of Earning Quality on the Corroboration Effects of Dividend Policy
| Project/Area Number |
26380613
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Multi-year Fund |
|---|
| Section | 一般 |
|---|
| Research Field |
Accounting
|
|---|
| Research Institution | Osaka City University |
|---|
Principal Investigator |
|
|---|
| Project Period (FY) |
2014-04-01 – 2017-03-31
|
| Keywords | 配当政策 / コロボレーション効果 / 利益の品質 / 同時逆算手法 / 株主資本コスト / インプライド期待リターン / インプライド期待成長率 / ROE |
|---|
| Outline of Final Research Achievements |
The market evaluates the information content of dividends in interrelating with earnings (corroboration effects). I analyzed empirically the effect of corroboration effects on both implied expected rate of return (r) and implied expected rate of growth (g) by applying the method for simultaneously estimating both r and g. I found evidence that both r and g increase in reaction to the increase in dividends, and the simultaneously released increase in both dividends and earnings make both r and g put additional upward.
|
| Free Research Field |
会計学
|
