Insider ownership and dividend signals: Additional evidence from the banking industry

Michael Filbeck; Patricia A. Chadwell

doi:10.1007/BF02920642

Insider ownership and dividend signals: Additional evidence from the banking industry

Michael Filbeck, Patricia A. Chadwell

Black School of Business (Behrend)

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

This study investigates the relationship between the concentration of insider ownership and the share-price response to dividend-policy changes implemented by bank holding companies (BHCs). Using a cross-industry sample, previous research (Born 1988) found that there are differences in the magnitude of the share-price response to dividend initiations which may be explained by the concentration of insider ownership of the sampled firms. We hypothesize that the concentration of insider ownership does not play a role in differences in share price for BHCs due to the presence of regulatory monitors. The results of this study support our hypothesis.

Original language	English (US)
Pages (from-to)	109-117
Number of pages	9
Journal	Journal of Economics and Finance
Volume	17
Issue number	2
DOIs	https://doi.org/10.1007/BF02920642
State	Published - Jun 1 1993

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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abstract = "This study investigates the relationship between the concentration of insider ownership and the share-price response to dividend-policy changes implemented by bank holding companies (BHCs). Using a cross-industry sample, previous research (Born 1988) found that there are differences in the magnitude of the share-price response to dividend initiations which may be explained by the concentration of insider ownership of the sampled firms. We hypothesize that the concentration of insider ownership does not play a role in differences in share price for BHCs due to the presence of regulatory monitors. The results of this study support our hypothesis.",

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AB - This study investigates the relationship between the concentration of insider ownership and the share-price response to dividend-policy changes implemented by bank holding companies (BHCs). Using a cross-industry sample, previous research (Born 1988) found that there are differences in the magnitude of the share-price response to dividend initiations which may be explained by the concentration of insider ownership of the sampled firms. We hypothesize that the concentration of insider ownership does not play a role in differences in share price for BHCs due to the presence of regulatory monitors. The results of this study support our hypothesis.

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Insider ownership and dividend signals: Additional evidence from the banking industry

Abstract

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