{"product_id":"2940148781127","title":"The Ex-Dividend-Day Price Behaviour of Blue-Chip Stocks: International Evidence","description":"To explain the ex-day stock price behaviour, previous research has mostly focused on\u003cbr\u003edividend yield and expected return. Most of these studies concentrated on the US markets and\u003cbr\u003ewere conducted in a stable economic condition. This paper examines the most liquid common\u003cbr\u003estock (blue-chip) prices behaviour on the ex-day in a period of financial crisis and covers four\u003cbr\u003emajor capital markets from different geographic locations (the US, the UK, Japan, and China).\u003cbr\u003eOn the New York and Shanghai Stock Exchanges, we observe that the stock prices drop does\u003cbr\u003enot differ from the dividend amount on the ex-dividend day and there is no evidence of\u003cbr\u003eabnormal return and short-term trading. On the Tokyo Stock Exchange, the stock prices fall\u003cbr\u003eless than the dividend amount, which is in contrast to the London Stock Exchange, where the\u003cbr\u003estock prices fall more than the dividend amount. On the Tokyo and London Stock Exchanges,\u003cbr\u003ewe observe abnormal return and short-term trading around the ex-day. Possible explanations\u003cbr\u003efor these differences can be financial crisis (in the UK) and short-term trading (in the Japan)","brand":"ReadCycle","offers":[{"title":"Default Title","offer_id":47176039334128,"sku":"2940148781127","price":2.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940148781127_p0.jpg?v=1763708088","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940148781127","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}