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dc.contributor.authorCharitou, Andreas-
dc.contributor.authorLambertides, Neophytos-
dc.contributor.authorTheodoulou, Giorgos-
dc.date.accessioned2019-07-15T10:22:42Z-
dc.date.available2019-07-15T10:22:42Z-
dc.date.issued2011-
dc.identifier.citationJournal of Financial and Quantitative Analysis, 2011 vol. 46, no. 5, pp. 1521-1543en_US
dc.identifier.issn17566916-
dc.identifier.urihttps://hdl.handle.net/20.500.14279/14543-
dc.description.abstractThis study extends the Grullon, Michaely, and Swaminathan (2002) analysis by incorporating default risk. Using data for firms that either increased or initiated cash dividend payments during the 23-year period 1986-2008, we find reduction in default risk. This reduction is shown to be a priced risk factor beyond the Fama and French (1993) risk measures, and it explains the dividend payment decision and the positive market reaction around dividend increases and initiations. Further analysis reveals that the reduction in default risk is a significant factor in explaining the 3-year excess returns following dividend increases and initiations.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.relation.ispartofJournal of Financial and Quantitative Analysisen_US
dc.rights© Cambridge University Pressen_US
dc.titleDividend increases and initiations and default risk in equity returnsen_US
dc.typeArticleen_US
dc.collaborationUniversity of Cyprusen_US
dc.collaborationAston Universityen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsSubscriptionen_US
dc.countryCyprusen_US
dc.countryUnited Kingdomen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
dc.identifier.doi10.1017/S0022109011000305en_US
dc.relation.issue5en_US
dc.relation.volume46en_US
cut.common.academicyear2011-2012en_US
dc.identifier.spage1521en_US
dc.identifier.epage1543en_US
item.fulltextNo Fulltext-
item.languageiso639-1en-
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.cerifentitytypePublications-
item.openairetypearticle-
crisitem.journal.journalissn1756-6916-
crisitem.journal.publisherCambridge University Press-
crisitem.author.deptDepartment of Nursing-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.facultyFaculty of Health Sciences-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.orcid0000-0003-2864-1793-
crisitem.author.parentorgFaculty of Health Sciences-
crisitem.author.parentorgFaculty of Management and Economics-
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