TAILIEUCHUNG - Research " Essays on Dividend Policy "

Essays on Dividend Policy Recall, however, that there are large differences between high-choice and low-choice MSAs in both SAT-taking rates and student characteristics (from Tables and ). Columns B, C, and D add controls for the SATtaking rate and the average background index of SAT-takers. | INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus some thesis and dissertation copies are in typewriter face while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print colored or poor quality illustrations and photographs print bleedthrough substandard margins and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages these will be noted. Also if unauthorized copyright material had to be removed a note will indicate the deletion. Oversize materials . maps drawings charts are reproduced by sectioning the original beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps. Photographs included in the original manuscript have been reproduced xerographically in this copy. Higher quality 6 X 9 black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. ProQuest Information and Learning 300 North Zeeb Road Ann Arbor Ml 48106-1346 USA 800-521-0600 _ _ UMI Essays on Dividend Policy ESSAY I Do Dividend Initiations Signal Firm Prosperity by Sanjay Sharma A Dissertation in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy Stem School of Business New York University I am grateful to the Chairman and Members of my Dissertation Committee Profs. Crocker Liu Marti Subrahmanyam Aswath Damodaran Jarl Kallberg for valuable insights and comments. These essays have also benefited greatly from suggestions by Prof. Kose John Prof. Yakov Amihud Viral Acharya and Kefei Li. Director Debt Capital Markets Merrill Lynch World Financial Center New York NY Tel 212 449-1198 Fax 212 449-0450 .

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