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Dividend changes as predictors of future earnings

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Spickers, Theresa
dc.contributor.author Huotari, Antti
dc.date.accessioned 2020-12-20T17:04:39Z
dc.date.available 2020-12-20T17:04:39Z
dc.date.issued 2020
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/97481
dc.description.abstract This paper analyses the relationship between changes in dividends and unexpected earnings of public companies exchanged in Northern Europe using dividend change data from 2008 to 2017. This study finds that dividend changes in year 0 are positively correlated with earnings changes in year 0, but for the following two years the correlation with earnings is either insignificant or negative under different methods. The findings are inconsistent with dividend signalling theories but stay robust under different specifications, suggesting that dividend changes cannot reliably be used to predict changes in companies’ future earnings. en
dc.format.extent 19
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Dividend changes as predictors of future earnings en
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 dividends en
dc.subject.keyword dividend signalling en
dc.subject.keyword earnings forecasting en
dc.subject.keyword asymmetric information en
dc.identifier.urn URN:NBN:fi:aalto-2020122056308
dc.type.ontasot Bachelor's thesis en
dc.type.ontasot Kandidaatintyö fi
dc.programme Rahoitus en

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