تاثير افزايش سود تقسيمي بررفتار سرمايه‌گذاران‌

The Effect of Dividend Increase on Investor Behavior

In this article we investigate the investor reaction to dividend increases. because of the investor reaction ( buy, sale or saving of stock) reflect by trading volume, we study the trading volume in different period after thc announcement of dividend increase for firms listed in Tehran stock exchange from 1379 to 1384. In first hypothesis the effect of dividend increases on trading volume was investigated using one-sample test.in second hypothesis using Correlation and Regression method, reflation between percent of dividend increases and percent of trading volume changes was investigated. The result of this study implies that dividend increase effect on stock trading volume. The result also interpret the investor reaction to dividend increase is a shot term reflex