Pub Date : 2023-12-25DOI: 10.1108/qrfm-04-2023-0094
V. Kumari, Satish Kumar, Dharen Kumar Pandey, Prashant Gupta
Purpose This study aims to provide insights into different aspects of the extant literature on the effects of dividend announcements. Along with other outputs of a bibliometric study, this study provides deeper insights into the concentration of the extant literature and suggest future research agendas. Design/methodology/approach This study uses the bibliometric, network and content analysis of the dividend announcement literature indexed in Scopus. This study presents the temporal analysis, the network of authors, countries, author citations and the co-occurrence of author keywords. This study provides the concentration of the extant literature in three clusters and unearth some key future research areas. This study uses the latent Dirichlet allocation method for robustness. Findings A total of 54 documents examining the US sample have received 1,804 citations. Interestingly, the first article on emerging markets was published in 2002, when at least 34 articles on developed markets had already been published from 1982 to 2001. The content analysis of top-cited literature unveils diverse insights into dividend announcements’ effects on financial markets. Contagion effects negatively impact non-announcing banks, particularly larger ones. Dividend maintenance affects stock market momentum, influencing loser returns. While current dividend/earnings news may not predict future company performance, information content dominates bond market reactions to post-dividend announcements. Concomitantly, while financially constrained firms exhibit short-term gains but worse long-term performance following dividend increases, larger stock dividends send stronger market signals in China. Originality/value This study significantly contributes to the bibliometric and content analysis literature by analyzing the sample documents based on the sample examined. To the best of the authors’ knowledge, no previous bibliometric study in this domain has been conducted to explore the markets (developed and emerging) to which the samples examined belong and the quality of publications from developed and emerging markets.
{"title":"Dividend announcements and stock returns: a retrospective analysis","authors":"V. Kumari, Satish Kumar, Dharen Kumar Pandey, Prashant Gupta","doi":"10.1108/qrfm-04-2023-0094","DOIUrl":"https://doi.org/10.1108/qrfm-04-2023-0094","url":null,"abstract":"\u0000Purpose\u0000This study aims to provide insights into different aspects of the extant literature on the effects of dividend announcements. Along with other outputs of a bibliometric study, this study provides deeper insights into the concentration of the extant literature and suggest future research agendas.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses the bibliometric, network and content analysis of the dividend announcement literature indexed in Scopus. This study presents the temporal analysis, the network of authors, countries, author citations and the co-occurrence of author keywords. This study provides the concentration of the extant literature in three clusters and unearth some key future research areas. This study uses the latent Dirichlet allocation method for robustness.\u0000\u0000\u0000Findings\u0000A total of 54 documents examining the US sample have received 1,804 citations. Interestingly, the first article on emerging markets was published in 2002, when at least 34 articles on developed markets had already been published from 1982 to 2001. The content analysis of top-cited literature unveils diverse insights into dividend announcements’ effects on financial markets. Contagion effects negatively impact non-announcing banks, particularly larger ones. Dividend maintenance affects stock market momentum, influencing loser returns. While current dividend/earnings news may not predict future company performance, information content dominates bond market reactions to post-dividend announcements. Concomitantly, while financially constrained firms exhibit short-term gains but worse long-term performance following dividend increases, larger stock dividends send stronger market signals in China.\u0000\u0000\u0000Originality/value\u0000This study significantly contributes to the bibliometric and content analysis literature by analyzing the sample documents based on the sample examined. To the best of the authors’ knowledge, no previous bibliometric study in this domain has been conducted to explore the markets (developed and emerging) to which the samples examined belong and the quality of publications from developed and emerging markets.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138943780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This study aims to examine the literature from the Web of Science database published on board committees between 2002 and 2023 and outline the quantitative summary, journey of board committees’ research and suggest future research directions. Design/methodology/approach This study examines bibliometric-content analysis combined with a systematic literature review of articles on board committees to document the summary of the field. The authors used co-citation, co-occurrence and cluster analysis under bibliometric-content analysis to present the field summary. Findings Board committee composition, such as their gender, independence and expertise, as well as factors affecting corporate governance, such as reporting quality, earnings management and board monitoring, all have a significant impact on board committee literature. The field is getting growing attention from authors, journals and countries. Nevertheless, there is a need for further exploration in areas like expertise, member age and tenure, the economic crisis and the nomination and remuneration committee, which have not yet received sufficient attention. Originality/value This paper has both theoretical and practical contributions. From a theoretical perspective, this study substantiates the prevalence of agency theory within board committee literature, reinforcing the foundational role of agency theory in shaping discussions about board committees. On practical ground, the comprehensive overview of board committee literature offers scholars a road map for navigating this field and directing their future research journey. The identification of research gaps in certain areas serves as a catalyst for scholars to explore untapped dimensions, enabling them to strengthen the essence of the committees’ performance.
目的 本研究旨在研究 Web of Science 数据库中 2002 年至 2023 年间发表的有关董事会委员会的文献,概述董事会委员会研究的定量总结和历程,并提出未来的研究方向。研究结果董事会委员会的组成,如性别、独立性和专业知识,以及影响公司治理的因素,如报告质量、收益管理和董事会监督,都对董事会委员会文献产生了重大影响。这一领域越来越受到作者、期刊和国家的关注。然而,在专业知识、成员年龄和任期、经济危机以及提名和薪酬委员会等尚未得到足够关注的领域,仍有进一步探讨的必要。从理论角度看,本研究证实了代理理论在董事会委员会文献中的普遍性,加强了代理理论在董事会委员会讨论中的基础性作用。在实践中,对董事会委员会文献的全面概述为学者们提供了一个路线图,帮助他们驾驭这一领域并指引未来的研究方向。对某些领域研究空白的识别,为学者们探索尚未开发的领域提供了催化剂,使他们能够加强对委员会绩效本质的研究。
{"title":"Unravelling the board committee puzzle: a comprehensive review and future research agenda","authors":"Satya Prakash Mani, Shashank Bansal, Ratikant Bhaskar, Satish Kumar","doi":"10.1108/qrfm-05-2023-0128","DOIUrl":"https://doi.org/10.1108/qrfm-05-2023-0128","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine the literature from the Web of Science database published on board committees between 2002 and 2023 and outline the quantitative summary, journey of board committees’ research and suggest future research directions.\u0000\u0000\u0000Design/methodology/approach\u0000This study examines bibliometric-content analysis combined with a systematic literature review of articles on board committees to document the summary of the field. The authors used co-citation, co-occurrence and cluster analysis under bibliometric-content analysis to present the field summary.\u0000\u0000\u0000Findings\u0000Board committee composition, such as their gender, independence and expertise, as well as factors affecting corporate governance, such as reporting quality, earnings management and board monitoring, all have a significant impact on board committee literature. The field is getting growing attention from authors, journals and countries. Nevertheless, there is a need for further exploration in areas like expertise, member age and tenure, the economic crisis and the nomination and remuneration committee, which have not yet received sufficient attention.\u0000\u0000\u0000Originality/value\u0000This paper has both theoretical and practical contributions. From a theoretical perspective, this study substantiates the prevalence of agency theory within board committee literature, reinforcing the foundational role of agency theory in shaping discussions about board committees. On practical ground, the comprehensive overview of board committee literature offers scholars a road map for navigating this field and directing their future research journey. The identification of research gaps in certain areas serves as a catalyst for scholars to explore untapped dimensions, enabling them to strengthen the essence of the committees’ performance.\u0000","PeriodicalId":45060,"journal":{"name":"Qualitative Research in financial Markets","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138943548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}