This article measures the reaction of marginal investors to the announcement of a surprise dividend increase. Although field research is performed on companies listed on the Warsaw Stock Exchange, the article has important theoretical implications. Valuation theory gives many clues for the...

This article measures the reaction of marginal investors to the announcement of a surprise dividend increase. Although field research is performed on companies listed on the Warsaw Stock Exchange, the article has important theoretical implications. Valuation theory gives many clues for the...

This article measures the reaction of marginal investors to the announcement of a surprise dividend increase. Although field research is performed on companies listed on the Warsaw Stock Exchange, the article has important theoretical implications. Valuation theory gives many clues for the...