The Rearch of Signal Result after the Declaration of the Stock Dividend from Additional paid-in Capital

• Main Authors: Chao-Wei Kuo, 郭朝維
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/82956755805889721019

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. Keywords：