Matches in SemOpenAlex for { <https://semopenalex.org/work/W1805967065> ?p ?o ?g. }
Showing items 1 to 90 of
90
with 100 items per page.
- W1805967065 abstract "We propose a signaling model in which investors are loss averse to reductions in dividends relative to the reference point set by prior dividends. Managers with strong but unobservable earnings separate themselves by paying high dividends and still retaining enough earnings to be likely to at least match the same dividend next period. The model matches several important features of the data, including equilibrium dividend policies that can follow a Lintner partialadjustment model; a modal dividend change of zero; a stronger market reaction to dividend cuts than dividend increases; and a signaling mechanism that does not involve public destruction of value, a notion that managers reject in surveys. We also find empirical support for some novel predictions. * For helpful comments we thank Xavier Gabaix and seminar participants at NYU Stern, the University of Amsterdam, the University of Wisconsin, and Wharton and for excellent research assistance we thank Chris Allen. Baker gratefully acknowledges the Division of Research of the Harvard Business School for financial support." @default.
- W1805967065 created "2016-06-24" @default.
- W1805967065 creator A5006597987 @default.
- W1805967065 creator A5044570107 @default.
- W1805967065 date "2011-12-14" @default.
- W1805967065 modified "2023-09-27" @default.
- W1805967065 title "Dividends as Reference Points: A Behavioral Signaling Model" @default.
- W1805967065 cites W1554753823 @default.
- W1805967065 cites W1585500105 @default.
- W1805967065 cites W1878893887 @default.
- W1805967065 cites W1989285461 @default.
- W1805967065 cites W1990969594 @default.
- W1805967065 cites W1998843460 @default.
- W1805967065 cites W2024140722 @default.
- W1805967065 cites W2030874315 @default.
- W1805967065 cites W2049440762 @default.
- W1805967065 cites W2055721458 @default.
- W1805967065 cites W2056238342 @default.
- W1805967065 cites W2077877739 @default.
- W1805967065 cites W2083257361 @default.
- W1805967065 cites W2084695533 @default.
- W1805967065 cites W2096136442 @default.
- W1805967065 cites W2096362300 @default.
- W1805967065 cites W2098631968 @default.
- W1805967065 cites W2113991325 @default.
- W1805967065 cites W2121481101 @default.
- W1805967065 cites W2122291533 @default.
- W1805967065 cites W2133469585 @default.
- W1805967065 cites W2135839350 @default.
- W1805967065 cites W2142856961 @default.
- W1805967065 cites W2157323155 @default.
- W1805967065 cites W2202544003 @default.
- W1805967065 cites W2223768511 @default.
- W1805967065 cites W2588662777 @default.
- W1805967065 cites W3121491933 @default.
- W1805967065 cites W3121878137 @default.
- W1805967065 cites W3122430187 @default.
- W1805967065 cites W3122535128 @default.
- W1805967065 cites W3122906765 @default.
- W1805967065 cites W3123062155 @default.
- W1805967065 cites W3125388642 @default.
- W1805967065 cites W2122925298 @default.
- W1805967065 hasPublicationYear "2011" @default.
- W1805967065 type Work @default.
- W1805967065 sameAs 1805967065 @default.
- W1805967065 citedByCount "0" @default.
- W1805967065 crossrefType "journal-article" @default.
- W1805967065 hasAuthorship W1805967065A5006597987 @default.
- W1805967065 hasAuthorship W1805967065A5044570107 @default.
- W1805967065 hasConcept C10138342 @default.
- W1805967065 hasConcept C106159729 @default.
- W1805967065 hasConcept C116168712 @default.
- W1805967065 hasConcept C121955636 @default.
- W1805967065 hasConcept C149782125 @default.
- W1805967065 hasConcept C162118730 @default.
- W1805967065 hasConcept C162324750 @default.
- W1805967065 hasConcept C2780695315 @default.
- W1805967065 hasConcept C2781426361 @default.
- W1805967065 hasConcept C59399099 @default.
- W1805967065 hasConceptScore W1805967065C10138342 @default.
- W1805967065 hasConceptScore W1805967065C106159729 @default.
- W1805967065 hasConceptScore W1805967065C116168712 @default.
- W1805967065 hasConceptScore W1805967065C121955636 @default.
- W1805967065 hasConceptScore W1805967065C149782125 @default.
- W1805967065 hasConceptScore W1805967065C162118730 @default.
- W1805967065 hasConceptScore W1805967065C162324750 @default.
- W1805967065 hasConceptScore W1805967065C2780695315 @default.
- W1805967065 hasConceptScore W1805967065C2781426361 @default.
- W1805967065 hasConceptScore W1805967065C59399099 @default.
- W1805967065 hasLocation W18059670651 @default.
- W1805967065 hasOpenAccess W1805967065 @default.
- W1805967065 hasPrimaryLocation W18059670651 @default.
- W1805967065 hasRelatedWork W1570199300 @default.
- W1805967065 hasRelatedWork W1757321038 @default.
- W1805967065 hasRelatedWork W1929654923 @default.
- W1805967065 hasRelatedWork W1951132231 @default.
- W1805967065 hasRelatedWork W1985712801 @default.
- W1805967065 hasRelatedWork W1987210759 @default.
- W1805967065 hasRelatedWork W2080169762 @default.
- W1805967065 hasRelatedWork W2151824431 @default.
- W1805967065 hasRelatedWork W2154981736 @default.
- W1805967065 hasRelatedWork W2232147335 @default.
- W1805967065 hasRelatedWork W2289023214 @default.
- W1805967065 hasRelatedWork W3123429966 @default.
- W1805967065 hasRelatedWork W3170272580 @default.
- W1805967065 hasRelatedWork W2125594598 @default.
- W1805967065 isParatext "false" @default.
- W1805967065 isRetracted "false" @default.
- W1805967065 magId "1805967065" @default.
- W1805967065 workType "article" @default.