Investor overreaction and the ex-date price behavior of stock dividends: evidence from the Taiwan Stock Exchange

• Published in: Journal of statistics & management systems Vol. 13; no. 1; pp. 1 - 26
• Main Authors: Jiang, Ching-Hai, Huang, Yen-Sheng
• Format: Journal Article
• Language: English
• Published: Taylor & Francis Group 01.01.2010
• Subjects: Ex-date of stock dividend; overreaction hypothesis; Taiwan stock market

This paper examines the ex-date price behavior of stock dividends for all stocks listed on the Taiwan Stock Exchange. The sample involves 2056 ex-dates of stock dividends from 473 firms. The results indicate a significantly positive abnormal return of 1.99% on the ex-date of stock dividends. The ex-...