We examine the impact of inflation of Earnings and consequently on dividend policy. We find that dividend policy based on historical earnings to be more effective than dividend policy based on inflation adjusted (real) earnings.
Historical Cost Earnings Versus Inflation-Adjusted Earnings in the Dividend Decision,' Financial Analysts Journal, March/April 1983, pp. 3-12.
BAR-YOSEF, SASSON;
1983
Abstract
We examine the impact of inflation of Earnings and consequently on dividend policy. We find that dividend policy based on historical earnings to be more effective than dividend policy based on inflation adjusted (real) earnings.
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