Research in this thesis deals with some unexplored, or only partially explored, issues relating to the information content of volatility of the idiosyncratic component of asset returns at the firm and industry-level, both in the context of developed and emerging stock markets. Specific issues we...

ENGLISH ABSTRACT: Repurchasing of shares by South African companies were legalised on 1 July 1999.This introduced an alternative to dividends for distributing cash to shareholders.Although dividends and share repurchases realise the same value in a perfect efficientmarket, the inefficiencies of...

This dissertation examines four specific aspects of capital structure and dividend policy.The first issue concerns the determinants of capital structure dynamics. The primaryobjective is to examine whether stock returns are important factors in firm?s capitalstructure choice, and if so, whether...