Dividendos e lucros anormais: um estudo nas empresas listadas na BOVESPA
Investing in stocks requires studies and the formulation of future earnings scenarios to determine possible returns, whether abnormal or not. This research aims to find empirical evidence for the relation between dividend behavior and abnormal earnings, with a view to getting a clearer view on this...
| Autores: | , , , , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2005 |
| País: | Brasil |
| Institución: | Universidade de São Paulo (USP) |
| Repositorio: | Revista Contabilidade & Finanças (Online) |
| Idioma: | portugués |
| OAI Identifier: | oai:revistas.usp.br:article/34167 |
| Acceso en línea: | https://www.revistas.usp.br/rcf/article/view/34167 |
| Access Level: | acceso abierto |
| Palabra clave: | Análise de Regressão Dividendos Lucro Anormal Modelo de Ohlson Regression Analysis Dividends Abnormal Earnings and Ohlson Model |
| Sumario: | Investing in stocks requires studies and the formulation of future earnings scenarios to determine possible returns, whether abnormal or not. This research aims to find empirical evidence for the relation between dividend behavior and abnormal earnings, with a view to getting a clearer view on this subject. We realized an empirical-analytical study, using Ohlson's model to calculate abnormal earnings. Next, we applied regression analysis and descriptive statistics. Data for analysis were collected from the database Economática, considering companies whose stocks were traded on the São Paulo Stock Exchange - BOVESPA between 1996 and 2001. The results evidence that there was no relation between yield and abnormal earnings, but that average dividends are higher than average abnormal earnings. However, new research is needed to find better evidence, using longer observation periods and/or applying other techniques. |
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