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Dividend policy and market asymmetries
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Orientador(es)
Resumo(s)
In 2002 new regulations arrived for public companies listed in the U.S. through the
Sarbanes-Oxley Act. This regulation tried to impose more transparency in financial
markets, implying less asymmetric information between firms and investors. The aim of
this work is to verify if the regulation had the desired impact, comparing the dividend
policy of firms before and after the introduction of this regulation. Thus, admitting that
firms use dividend policy to signal our perspectives to investors, due to asymmetric
information between investors and firms, a greater transparency should lead to an impact in
the dividend policy.
Descrição
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics
Palavras-chave
Sarbanes-Oxley act Regulation Dividends policy Market asymmetries