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Capital Market Efficiency and the Effects of Dividend Announcements on Share Prices in Nigeria
16 references·5 citing·33 second hop
Capital Market Efficiency and the Effects of Dividend Announcements on Share Prices in Nigeria (2003)Capital Market Efficiency and the Effects…How to Rate Management of Investment Funds (2012)How to Rate Management of Inv…Event Studies in Economics and Finance (1997)Event Studies in Economics an…The New Issues Puzzle (1995)The New Issues PuzzlePrice Reactions to Dividend Initiations and Omissions: Overreaction or Drift? (1995)Price Reactions to Dividend I…The Sharpe Ratio (1994)The Sharpe RatioMARKET EFFICIENCY IN DEVELOPING COUNTRIES: A CASE STUDY OF THE NAIROBI STOCK EXCHANGE (1994)MARKET EFFICIENCY IN DEVELOPI…Efficient Capital Markets: II (1991)Efficient Capital Markets: IIEfficient Capital Markets and Martingales (1989)Efficient Capital Markets and…Risk aversion, uncertain information, and market efficiency (1988)Risk aversion, uncertain info…World stock markets: some random walk tests (1982)World stock markets: some ran…An Empirical Investigation of the Arbitrage Pricing Theory (1980)An Empirical Investigation of…Dividend information, stock returns and market efficiency-II (1978)Dividend information, stock r…Efficient Capital Markets: Reply (1976)Efficient Capital Markets: Re…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)EFFICIENT CAPITAL MARKETS: A …Efficient Capital Markets: A Review of Theory and Empirical Work (1970)Efficient Capital Markets: A …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…Quality of Corporate Governance on Dividend Payouts: The Case of Nigeria (2018)Quality of Corporate Governan…The Value Relevance of Accounting Disclosures among Nigerian Financial Institutions after the IFRS Adoption (2015)The Value Relevance of Accoun…THE RANDOM WALK THEORY: AN EMPIRICAL TEST IN THE NIGERIAN CAPITAL MARKET (2014)THE RANDOM WALK THEORY: AN EM…Market Efficiency in Developing African Stock Markets: What Do We Know? (2014)Market Efficiency in Developi…DIVIDEND ANNOUNCEMENTS AND THE ABNORMAL STOCK RETURNS FOR THE EVENT FIRM AND ITS RIVALS (2012)DIVIDEND ANNOUNCEMENTS AND TH…Corporate financing and investment decisions when firms have information that investors do not have (1984)The Cross-Section of Expected Stock Returns (1992)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)Capital markets research in accounting (2001)Risk, Return, and Equilibrium: Empirical Tests (1973)Efficient Capital Markets: II (1991)Fundamentals and Stock Returns in Japan (1991)Alternative factor specifications, security characteristics, and the cross-section of expected stock returns1We are especially grateful to Eugene Fama (a referee), an anonymous referee and Bill Schwert (the editor) for insightful and constructive suggestions. We also thank Wayne Ferson, Ken French, Will Goetzmann, Craig Holden, Ravi Jagannathan, Bob Jennings, Bruce Lehmann, Josef Lakonishok, Richard Roll, participants at the 1997 Meetings of the Western Finance Association, the 1997 UCLA/USC/UC Irvine conference, the November 1997 Asset Pricing Meeting of the National Bureau of Economic Research, the Atlanta Forum, and seminars at Columbia, Indiana, Florida, New York, Tulane, and Yale Universities; Eugene Fama and Ken French for providing part of the data used in this study; and Christoph Schenzler for excellent programming assistance. The second author acknowledges support from the Dean's Fund for Research and the Financial Markets Research Center at Vanderbilt University. We are responsible for remaining errors. This paper was formerly titled `A Re-Examination of Security Return Anomalies'.1 (1998)The arbitrage theory of capital asset pricing (1976)Stock Market Liberalization, Economic Reform, and Emerging Market Equity Prices (2000)Introductory Econometrics for Finance (2008)The Behavior of Stock-Market Prices (1965)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Users of the world, unite! The challenges and opportunities of Social Media (2009)The relationship between return and market value of common stocks (1981)Investor Psychology and Security Market Under‐ and Overreactions (1998)Investor Sentiment and the Cross‐Section of Stock Returns (2006)A five-factor asset pricing model (2014)Modern Portfolio Theory and Investment Analysis. (1982)The Statistics of Sharpe Ratios (2002)An econometric model of serial correlation and illiquidity in hedge fund returns (2004)Deep Direct Reinforcement Learning for Financial Signal Representation and Trading (2016)Common risk factors in the returns on stocks and bonds (1993)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Measuring long-horizon security price performance (1997)Market Reactions to Tangible and Intangible Information (2006)Taming the Factor Zoo: A Test of New Factors (2020)Hot Hands in Mutual Funds: Short-Run Persistence of Relative Performance, 1974-1988 (1993)Returns from Investing in Equity Mutual Funds 1971 to 1991 (1995)An Engine, Not a Camera (2006)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)
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References

  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*15,723 cited
  • 1970Efficient Capital Markets: A Review of Theory and Empirical Work13,616 cited
  • 1991Efficient Capital Markets: II5,346 cited
  • 1997Event Studies in Economics and Finance4,623 cited
  • 1995The New Issues Puzzle3,550 cited
  • 1994The Sharpe Ratio2,542 cited
  • 2012How to Rate Management of Investment Funds1,603 cited
  • 1980An Empirical Investigation of the Arbitrage Pricing Theory1,249 cited
  • 1995Price Reactions to Dividend Initiations and Omissions: Overreaction or Drift?939 cited
  • 1988Risk aversion, uncertain information, and market efficiency519 cited
  • 1989Efficient Capital Markets and Martingales505 cited
  • 1978Dividend information, stock returns and market efficiency-II412 cited
  • 1994MARKET EFFICIENCY IN DEVELOPING COUNTRIES: A CASE STUDY OF THE NAIROBI STOCK EXCHANGE179 cited
  • 1976Efficient Capital Markets: Reply126 cited
  • 1982World stock markets: some random walk tests

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74 cited

Cited by

  • 2014Market Efficiency in Developing African Stock Markets: What Do We Know?27 cited
  • 2012DIVIDEND ANNOUNCEMENTS AND THE ABNORMAL STOCK RETURNS FOR THE EVENT FIRM AND ITS RIVALS22 cited
  • 2014THE RANDOM WALK THEORY: AN EMPIRICAL TEST IN THE NIGERIAN CAPITAL MARKET21 cited
  • 2018Quality of Corporate Governance on Dividend Payouts: The Case of Nigeria20 cited
  • 2015The Value Relevance of Accounting Disclosures among Nigerian Financial Institutions after the IFRS Adoption17 cited