Dividend Announcements and Stock Market Reaction

Mohamad Jais, Bakri Abdul Karim, Kenta Funaoka and Azlan Zainol Abidin

MPRA Paper from University Library of Munich, Germany

Abstract: This paper presents "Dividend Announcements and Stock Market Reaction in Kuala Lumpur Stock Exchange." Using an event study approach, the evidence shows that dividend increase announcements are greeted positively by investors, while there are some evidences suggesting investors react negatively prior to dividend decrease announcements. The observations are then separated into the magnitude of dividend change and income change. This paper also separates the observations into government linked companies (GLCs) and non-GLCs.

Keywords: Dividend announcement; market reaction; KLSE (search for similar items in EconPapers)
JEL-codes: C31 G35 (search for similar items in EconPapers)
Date: 2009-12-26
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