This study investigates the manner in which the Irish stock market responds to company announcements about dividend payments. In particular, the paper examines whether the predictions of the 'signalling' hypothesis hold or if more recent findings (which suggest that there is little...

Several of the larger emerging stock markets are focused upon. It is demonstrated that the intertemporal covariances between returns of different emerging markets may be insufficiently stable to permit the exploitation of the theoretical gains available from international diversification based...

The question of whether active trading strategies outperform the more naive approaches that are available to investors has returned to the research agenda. The topic had been hotly debated in the early and middle 1960s, but seemed to have been dispatched to the academic sidelines by proponents...

Eckbo and Masulis (1992), Burton et al. (1999) and Armitage (1999) reported that the method used to issue new shares is one of the key determinants of the market reaction to seasoned equity offer announcements. This article develops this earlier line of research by examining a sample of 193...

In this paper we present novel evidence on the stock market reaction to new equity issues in the UK. Using a sample of 116 announcements made during the period 1989-1991 we find evidence of significantly negative market reactions to such news, consistent in both sign and magnitude with earlier...