| Summary: | 碩士 === 雲林科技大學 === 會計系研究所 === 96 === This article mainly treats the hidden meaning from companies that provide Stock
Dividend from Additional paid-in Capital. Although, Stock Dividend from Additional
paid-in Capital in accounting is just the reclassification of accounting titles. Why
companies still insist on using Stock Dividend from Additional paid-in Capital to
offer Stock Dividend? Does the hidden motivation satisfy shareholders’ demands and
cater to their pleasure? Or these companies anticipate the profit will improve in the
future, so they pass the kind of signal result out? According to Shu-Yi Chen’s research,
the stock’s prices of these companies that provide Stock Dividend from Additional
paid-in Capital are getting better after providing Stock Dividend than other companies
that provide Stock Dividend from retained earnings. However, the operation effects of
the companies that provide Stock Dividend from Additional paid-in Capital are
obviously worse. It is very contradictory between the stock’s prices and operation
effects. In this article, I reset the constant variables to treat the operation effects of the
companies that provide Stock Dividend from Additional paid-in Capital after Stock
Dividend. The results shows the Empirical Companies is better than the Comparing
Group in many variables except the earnings per share growth rate after the
declaration of the dividend in the same year, Therefore, the result proves that it is the
same as this article anticipate in the beginning.
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