| dc.description.abstract | This research examines the effect of dividend announcement on stock price. The study uses an event study approach with a sample of 25 major companies in food and beverage industry listed on the market portfolio proxied by VN-Index and HNX-Index made 163 dividend announcements for the period of 2011-2014. The significant level α of 5% and 10% will be applied for t-test, and p-value to get the conclusions that whether or not the average abnormal returns and cumulative average abnormal returns for 34 dividend increase, 43 dividend decrease, 66 dividend no change, 143 cash dividend, 10 stock dividend, 10 simultaneous cash and stock dividend are statistically significant. This research will be more important for investors, managers of the companies and stock exchange regulatory agencies when they make investment decision.
Key words: event study, dividend announcements, stock price, market model, average abnormal returns and cumulative average abnormal returns. | en_US |
