Brown, Philip; How, Janice C.Y.; Verhoeven, Peter - In: Pacific-Basin Finance Journal 16 (2008) 4, pp. 411-435
We examine the link between the accuracy of consensus analysts' dividend forecasts, earnings predictability and dividend policies of firms in 39 countries from 1995 to 2004. For firms that display stronger dividend smoothing, as modeled by Lintner [Lintner, J., 1956. Distribution of incomes of...