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Stock Dividend Ex-Day Abnormal Return
2021
Ekonomski Pregled
This study examines the impact of the ex-day of stock dividend on stock return and volume on Borsa Istanbul stock exchange. The data covers 1,220 stock dividends associated with 305 companies over the period 1997-2018. A positive abnormal return and volume is seen around the ex-day of stock dividend. The cumulative average excess return over market return starts to significantly rise ten days before ex-day and reaches its highest level on the ex-day before falling back in the days following.
doi:10.32910/ep.72.5.2
fatcat:5awyq64ynzadzbpfeluips3rx4