Dividend changes as predictors of future earnings

dc.contributorAalto Universityen
dc.contributorAalto-yliopistofi
dc.contributor.advisorSpickers, Theresa
dc.contributor.authorHuotari, Antti
dc.contributor.departmentRahoituksen laitosfi
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2020-12-20T17:04:39Z
dc.date.available2020-12-20T17:04:39Z
dc.date.issued2020
dc.description.abstractThis 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.extent19
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/97481
dc.identifier.urnURN:NBN:fi:aalto-2020122056308
dc.language.isoenen
dc.programmeRahoitusen
dc.subject.keyworddividendsen
dc.subject.keyworddividend signallingen
dc.subject.keywordearnings forecastingen
dc.subject.keywordasymmetric informationen
dc.titleDividend changes as predictors of future earningsen
dc.typeG1 Kandidaatintyöfi
dc.type.ontasotBachelor's thesisen
dc.type.ontasotKandidaatintyöfi
Files
Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
bachelor_Huotari_Antti_2020.pdf
Size:
386.07 KB
Format:
Adobe Portable Document Format