To Pay or Not to Pay Dividend*

Abstract

The Journal of FinanceVolume 37, Issue 2 p. 415-428 Dividend Policy and Valuation: Theory and Test To Pay or Not to Pay Dividend* NILS H. HAKANSSON, NILS H. HAKANSSONUniversity of California, Berkeley. Presented at Columbia, Stanford, and Yale Universities, Bell Laboratories, Murray Hill, New Jersey, the Universities of British Columbia and Chicago, and the Massachusetts Institute of Technology. The author would like to thank the participants of these seminars for helpful comments and Joseph Stiglitz, James Ohlson, and Roger Gordon for stimulating discussions. Partial financial support was provided by the Dean Witter Foundation.Search for more papers by this author NILS H. HAKANSSON, NILS H. HAKANSSONUniversity of California, Berkeley. Presented at Columbia, Stanford, and Yale Universities, Bell Laboratories, Murray Hill, New Jersey, the Universities of British Columbia and Chicago, and the Massachusetts Institute of Technology. The author would like to thank the participants of these seminars for helpful comments and Joseph Stiglitz, James Ohlson, and Roger Gordon for stimulating discussions. Partial financial support was provided by the Dean Witter Foundation.Search for more papers by this author First published: May 1982 https://doi.org/10.1111/j.1540-6261.1982.tb03564.xCitations: 16 †This is an abridged version on [7], which is available upon request from the author (School of Business Administration, University of California, Berkeley 94720). Among other things, the comprehensive version examines the informativeness of dividends and the issue of cash dividends vs. share repurchases, and provides examples and more extensive references to the literature. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume37, Issue2May 1982Pages 415-428 RelatedInformation