Now showing items 1-4 of 4

    • Buybacks versus Ordinary Dividends: Marginal Investor Reactions to Cash-return Announcements 

      Anderson, W.; McLaughlin, S. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2013)
      This paper examines the stock price effect in New Zealand of announcements of increases in dividends and of share repurchases from 1993 to 2009. The results are related to the soft substitution hypothesis on Australian ...
    • Dealing with Trading Thinness in Event Studies: An Improved Trade-to-Trade Model 

      Anderson, W. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2012)
      This paper offers an improvement to the trade-to-trade model for event studies. While the trade-to-trade model of Maynes and Rumsey (1993) addresses the problem of thin trading by eliminating periods in which no trading ...
    • Event Studies in thinly-traded markets: An improvement to the market model 

      Anderson, W. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2013)
      Whether a market is thinly traded or not, the calculation of expected returns is a necessary ingredient in data processing for an event study. The method most commonly used is the market model. This often fails to meet ...
    • The role of mid-year dividends as predictors of yearly earnings 

      Anderson, W. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2013)
      New Zealand joint dividend and earnings announcement data is used to corroborate an aspect of dividend signalling espoused by Miller and Rock (1985). This is, that dividends announced within the course of a company's ...