We argue that dividend policy is measured by a long run payout ratio as corporations avoid erratic changes is dividend policy due to the ‘information content of dividends’.
Dividend Policy and Capital Market Theory,' The Review of Economics and Statistics, Vol. 58, No. 2 (May 1976), pp. 181-190.
BAR-YOSEF, SASSON;
1976
Abstract
We argue that dividend policy is measured by a long run payout ratio as corporations avoid erratic changes is dividend policy due to the ‘information content of dividends’.
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