DIVIDENDE ET REACTION BOURSIERE : UNE ETUDE ECONOMETRIQUE SUR LA BOURSE REGIONALE DES VALEURS MOBILIERES

Aboudou Ramanou YESSOUFOU

Résumé


The objective of the present article is to analyze the influence of an announcement of variation of the regular dividend on the reaction of the Regional Stock market of the Movable Values (BRVM). We used secondary data descended of the files of the purse and took some econometric precautions. Our results indicate that the stock reaction is meaningful and in conformity with the waiting, exactly the following day of the announcement of the rises of dividends and four days after the announcement of the decreases of dividends. In the same way, the stock reaction to the announcement of a variation of the dividend is independent of the level and the variation of the risk of the enterprise. 


Mots-clés


African context, dividend, stock reaction, risk, signal. JEL Classification: G11, G12, G14, G21.  

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ISSN : 2458-6250

Tout travail, soumis, soupçonné de piratage ou de plagiat engage entièrement son auteur soumissionnaire.