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Asymmetrisk information: Institutionella investerares förhandsinformation om inställda utdelningar
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies.
2019 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Asymmetric information : Institutional investors' knowledge before omitted dividends (English)
Abstract [sv]

Uppsatsen undersöker om institutionella investerare nettosäljer innan meddelande om inställd utdelning och om detta beror på asymmetrisk information. Urvalet för studien är företag på Nasdaq OMX Stockholms huvudlistor som har ställt in kontantutdelning under perioden 2004–2018. Studien finner att institutionella investerare nettosäljer under två kvartal innan informationen om inställd utdelning offentliggjorts och att detta troligen beror på asymmetrisk information. Studien visar även att företagsvärdet för de observerade företagen minskar innan meddelande om inställd utdelning.

Abstract [en]

The paper examines if institutional investors are net sellers prior to dividend omission announcements and if this is due to asymmetric information. By studying companies listed on Nasdaq OMX Stockholm’s main list during the period 2004-2018, we find that institutional investors are net sellers during two quarters prior to dividend omission announcements and that this is likely due to asymmetric information. The study also shows that the market value of the observed companies decreases prior to dividend omission announcements.

Place, publisher, year, edition, pages
2019. , p. 28
Keywords [en]
Dividend omission, asymmetric information, institutional investors, signaling
Keywords [sv]
inställd utdelning, asymmetrisk information, institutionella investerare, signalering
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-393450OAI: oai:DiVA.org:uu-393450DiVA, id: diva2:1353309
Subject / course
Business Studies
Educational program
Bachelor Programme in Business Studies
Supervisors
Examiners
Available from: 2019-09-26 Created: 2019-09-23 Last updated: 2019-09-26Bibliographically approved

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CiteExportLink to record
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  • apa
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