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Using company dividend policy to predict future earnings and growth opportunities

The purpose of the article is to analyze the relationship among dividend policy,future earnings and growth opportunities.And the results are below:
1.Total dividend and cash dividend can predict future earnings,but stock dividend can only reflect current earnings
2.total dividend and stock dividend are signaling effect,but I have a diffent result in cash dividend.
Using MBA,MBE and E/P as substitute variables,it is contracting effect.But using R&D as a substitute variable,it is signaling effect.

Identiferoai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0607104-140032
Date07 June 2004
CreatorsChien, Ming-Jr
ContributorsJen-Jsung Huang, David Shyu, Henry Y. Lo
PublisherNSYSU
Source SetsNSYSU Electronic Thesis and Dissertation Archive
LanguageCholon
Detected LanguageEnglish
Typetext
Formatapplication/pdf
Sourcehttp://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0607104-140032
Rightswithheld, Copyright information available at source archive

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