在新冠肺炎疫情期间追逐红利

IF 1.8 4区经济学 Q2 BUSINESS, FINANCE

International Review of Finance Pub Date : 2021-07-16 DOI:10.1111/irfi.12360

Nicolas Eugster, Romain Ducret, Dušan Isakov, Jean-Philippe Weisskopf

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引用次数: 1

摘要

摘要本文调查了2019冠状病毒病疫情对欧洲除息日前后投资者交易行为的影响。支付股息的公司数量突然减少，减少了获取股息的机会。因此，在疫情期间保持股息支付的公司比以前吸引了更多的兴趣。这导致通常在除息日左右观察到的股票回报模式的幅度翻了一番。我们的证据表明，寻求股息的投资者可能是除息日前后观察到的价格模式的主要驱动力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

Chasing dividends during the COVID-19 pandemic

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Chasing dividends during the COVID-19 pandemic

This paper investigates the impact of the coronavirus disease 2019 pandemic on investors' trading behaviors around ex-dividend dates in Europe. The sudden decrease in the number of companies paying dividends reduced the opportunities to capture dividends. Thus, the firms that maintained dividend payments during the pandemic attracted more interest than before. This led to a doubling in the magnitude of stock return patterns usually observed around ex-dividend days. Our evidence indicates that dividend-seeking investors are likely to be the main driver of the price patterns observed around ex-dividend dates.

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来源期刊

International Review of Finance BUSINESS, FINANCE-

CiteScore

3.30

自引率

5.90%

发文量

期刊介绍： The International Review of Finance (IRF) publishes high-quality research on all aspects of financial economics, including traditional areas such as asset pricing, corporate finance, market microstructure, financial intermediation and regulation, financial econometrics, financial engineering and risk management, as well as new areas such as markets and institutions of emerging market economies, especially those in the Asia-Pacific region. In addition, the Letters Section in IRF is a premium outlet of letter-length research in all fields of finance. The length of the articles in the Letters Section is limited to a maximum of eight journal pages.