We show that managers may use dividend policy as a signal of good news when the mangers are driven by stock option plans.
The Information Content of Dividends: A Signalling Approach,' Journal of Financial and Quantitative Analysis, Vol. 21, No. 1, (1986), pp. 47-58.
BAR-YOSEF, SASSON;
1986
Abstract
We show that managers may use dividend policy as a signal of good news when the mangers are driven by stock option plans.
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