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Behavioral dividend policy
[working paper]
dc.contributor.author | Gürtler, Marc | de |
dc.contributor.author | Hartmann, Nora | de |
dc.date.accessioned | 2012-05-29T14:01:00Z | de |
dc.date.accessioned | 2012-12-06T13:58:31Z | |
dc.date.available | 2012-12-06T13:58:31Z | |
dc.date.issued | 2003 | de |
dc.identifier.uri | http://www.ssoar.info/ssoar/handle/document/32325 | |
dc.description.abstract | "In this paper we develop an optimal dividend policy in the presence of limited rational inves-tors. Concretely, investors with mental accounts for dividends and stock prices as well as emotions like disappointment and elation embody the limited rationality. Furthermore, investors evaluate changes in wealth instead of final wealth. A management maximizing investors’ ‘modified’ utility results in the optimality of dividend payments as well as dividend smoothing, which both have long been puz-zles to financial theorists. Moreover, a model specification leads to a gradual dividend adjustment to changes in net earnings as described by Lintner (1956)." (author's abstract) | en |
dc.language | en | |
dc.subject.ddc | Wirtschaft | de |
dc.subject.ddc | Economics | en |
dc.subject.other | dividend policy; dividend smoothing; behavioral finance | |
dc.title | Behavioral dividend policy | de |
dc.description.review | begutachtet | de |
dc.description.review | reviewed | en |
dc.identifier.url | http://www.fiwi.tu-bs.de/fileadmin/files/forschung/working_papers/FW04.pdf | de |
dc.source.volume | FW04V1 | de |
dc.publisher.country | DEU | |
dc.publisher.city | Braunschweig | de |
dc.source.series | IF Working Paper Series | |
dc.subject.classoz | Finanzwirtschaft, Rechnungswesen | de |
dc.subject.classoz | Financial Planning, Accountancy | en |
dc.subject.thesoz | Investition | de |
dc.subject.thesoz | investment | en |
dc.subject.thesoz | Gewinnverteilung | de |
dc.subject.thesoz | distribution of profits | en |
dc.subject.thesoz | Börse | de |
dc.subject.thesoz | stock exchange | en |
dc.subject.thesoz | Aktienmarkt | de |
dc.subject.thesoz | stock market | en |
dc.date.modified | 2012-05-29T14:01:00Z | de |
dc.rights.licence | Deposit Licence - Keine Weiterverbreitung, keine Bearbeitung | de |
dc.rights.licence | Deposit Licence - No Redistribution, No Modifications | en |
ssoar.contributor.institution | USB Köln | de |
internal.status | formal und inhaltlich fertig erschlossen | de |
internal.identifier.thesoz | 10037283 | |
internal.identifier.thesoz | 10041196 | |
internal.identifier.thesoz | 10034972 | |
internal.identifier.thesoz | 10034970 | |
dc.type.stock | monograph | de |
dc.type.document | Arbeitspapier | de |
dc.type.document | working paper | en |
dc.rights.copyright | f | de |
dc.source.pageinfo | 26 | de |
internal.identifier.classoz | 1090406 | |
internal.identifier.document | 3 | |
dc.contributor.corporateeditor | Technische Universität Braunschweig, Department Wirtschaftswissenschaften, Institut für Finanzwirtschaft | |
internal.identifier.corporateeditor | 434 | |
internal.identifier.ddc | 330 | |
dc.description.pubstatus | Veröffentlichungsversion | de |
dc.description.pubstatus | Published Version | en |
internal.identifier.licence | 3 | |
internal.identifier.pubstatus | 1 | |
internal.identifier.review | 2 | |
internal.identifier.series | 675 | |
dc.identifier.handle | https://hdl.handle.net/10419/55235 | |
internal.check.abstractlanguageharmonizer | CERTAIN | |
internal.check.languageharmonizer | CERTAIN_CHANGED |
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Financial Planning, Accountancy