Mladenoska, Aleksandra - In: Journal of Contemporary Economic and Business Issues 4 (2017) 2, pp. 37-50
the Macedonian Stock Exchange in order to define whether the dividend policy is a factor determining the share price … when determining the effect of change in dividends on share price change. Empirical results have shown that: First, in the … quarter when the decision on dividend payment is declared, the share price goes up by 9%. Second, on the ex-dividend date, the …