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Dividend Payout Policy and Acquirors' Announcement Returns

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Shin, Sean
dc.contributor.author Suominen, Tuomas
dc.date.accessioned 2023-02-05T17:03:53Z
dc.date.available 2023-02-05T17:03:53Z
dc.date.issued 2022
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/119625
dc.description.abstract The examination of value-creating properties for acquirors is plenty in prior research. However, the relationship between acquirors’ dividend payout policies and announcement returns during mergers and acquisitions events has received marginal attention. Consistent with the findings of Glambosky et al. (2020), this thesis presents evidence of a positive relation between dividend paying acquirors and cumulative abnormal returns for European public, listed companies. The similarity of the acquiror and the target dividend payout policies are also shown to have a significant relation, although negative. Due to the endogenous nature of dividend payout policy, the thesis limits its enquiry to only studying the similarity of dividend policies, however, a proposal is made for the future consideration of the implications of dividend tax incidence for acquiror dividend clientele. en
dc.format.extent 29
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Dividend Payout Policy and Acquirors' Announcement Returns en
dc.title Osinkopolitiikka ja Ostajayritysten Tuotot Lyhyellä Aikavälillä fi
dc.type G1 Kandidaatintyö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Rahoituksen laitos fi
dc.subject.keyword Mergers en
dc.subject.keyword Acquisitions en
dc.subject.keyword Dividends en
dc.subject.keyword Payout Policy en
dc.identifier.urn URN:NBN:fi:aalto-202302051975
dc.type.ontasot Bachelor's thesis en
dc.type.ontasot Kandidaatintyö fi
dc.programme Rahoitus en

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