Julia D¡¯Souza; Jacob, John; Willis, Veronda F. - In: International Journal of Business Administration 6 (2015) 2, pp. 1-16
This paper investigates changes in electric utilities¡¯ dividend policies following the onset of deregulation … deregulation. Under a regulated regime, we find no systematic pattern of associations between dividend changes and abnormal stock … returns or future earnings changes. Post-deregulation, however, we find that, consistent with prior research on unregulated …