18.27 Empirical research found that there have been significant increases in stock price on the day an
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18.27 Empirical research found that there have been significant increases in stock price on the day an initial dividend (i.e., the first time a firm pays a cash dividend) is announced.
What does this finding imply about the information content of initial dividends?
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Related Book For 
Corporate Finance
ISBN: 9780071229036
6th International Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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