Behavioral Dividend Policy

In this paper we develop an optimal dividend policy in the presence of limited rational inves-tors. Concretely, investors with mental accounts for dividends and stock prices as well as emotions like disappointment and elation embody the limited rationality. Furthermore, investors evaluate changes in wealth instead of final wealth. A management maximizing...

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Year of publication:	2003-01-22
Authors:	Gürtler, Marc ; Hartmann, Nora
Institutions:	Institut für Wirtschaftswissenschaften <Braunschweig> / Lehrstuhl BWL, insbes. Finanzwirtschaft
Subject:	Anlageverhalten \| Heuristik \| Heuristic Optimization

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Extent:	311296 bytes 28 p. application/pdf
Series:	TU-Braunschweig - Institut für Wirtschaftswissenschaften - Lehrstuhl BWL, insbes. Finanzwirtschaft - Publikationen Working Paper Series ; FW04V1
Type of publication:	Book / Working Paper
Language:	English
Classification:	Corporate statistics and corporate cost accounting ; Management of financial services: stock exchange and bank management science (including saving banks) ; Individual Working Papers, Preprints ; Global Resources
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869231