Dividend Changes, Earnings Reports, And Share Prices: Some Australian Findings

Philip Brown, Frank J. Finn and Phillip Hancock
Additional contact information
Philip Brown: Australian Graduate School of Management, University of New South Wales.
Frank J. Finn: Department of Commerce, University of Queensland.
Phillip Hancock: Department of Commerce, University of Western Australia.

Australian Journal of Management, 1977, vol. 2, issue 2, 127-147

Abstract: Australian companies typically announce profit figures and dividend payouts at the same time. During the 60's and early 70's, profit and dividend changes were positively correlated, and were associated with significant share price changes, after abstracting from market effects. When profit and dividend reports gave conflicting signals, share prices tended to decline.

Keywords: DIVIDEND POLICY; EARNINGS REPORTS; EFFICIENCY; PROFIT REPORTS; STOCK MARKET PRICES (search for similar items in EconPapers)
Date: 1977
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:2:y:1977:i:2:p:127-147

DOI: 10.1177/031289627700200203

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