dc.contributor.author |
De Wet, Johannes H.v.H. (Johannes Hendrik van Heerden)
|
|
dc.contributor.author |
Mpinda, Mvita Freddy
|
|
dc.date.accessioned |
2014-07-08T08:02:21Z |
|
dc.date.available |
2014-07-08T08:02:21Z |
|
dc.date.issued |
2013-11 |
|
dc.description.abstract |
To date, a vast body of research has been established on dividend policy. However, little research
has been done on the impact of dividend payments on shareholders’ wealth while considering the
short- and long-run effects. This study is based on a sample of 46 companies listed on the
Johannesburg Securities Exchange (JSE) for the period 1995 to 2010. The Vector Error
Correction Model (VECM) was used to describe the short-run and long-run dynamics or the
adjustment of the co-integrated variables toward their equilibrium values. Results indicate that in
the long run, dividend yield is positively related to market price per share, while earnings per
share do not have a significant impact on the market price per share. |
en_US |
dc.description.librarian |
am2014 |
en_US |
dc.description.uri |
http://journals.cluteonline.com/index.php/IBER |
en_US |
dc.identifier.citation |
De Wet, J & Mpinda, M 2013, 'The impact of dividend payments on shareholders' wealth : evidence from the Vector Error Correction Model', International Business and Economics Research Journal, vol. 12, no. 11, pp. 1451-1466. |
en_US |
dc.identifier.issn |
1535-0754 (print) |
|
dc.identifier.issn |
2157-9393 (online) |
|
dc.identifier.uri |
http://hdl.handle.net/2263/40621 |
|
dc.language.iso |
en |
en_US |
dc.publisher |
Clute Institute for Academic Research |
en_US |
dc.rights |
Clute Institute for Academic Research |
en_US |
dc.subject |
Dividend payments |
en_US |
dc.subject |
Market price per share |
en_US |
dc.subject |
Shareholders’ wealth |
en_US |
dc.subject |
Relevance and irrelevance theory |
en_US |
dc.subject |
Granger causality model |
en_US |
dc.subject |
Johansson co-integration test |
en_US |
dc.subject |
Vector Error Correction Model (VECM) |
en_US |
dc.subject |
Earnings per share (EPS) |
en_US |
dc.title |
The impact of dividend payments on shareholders' wealth : evidence from the Vector Error Correction Model |
en_US |
dc.type |
Article |
en_US |