Clientele Effect

Clientele Effect
The theory that a company's stock price will move according to the demands and goals of investors in reaction to a tax, dividend or other policy change affecting the company. The clientele effect assumes that investors are attracted to different company policies, and that when a company's policy changes, investors will adjust their stock holdings accordingly. As a result of this adjustment, the stock price will move.

Consider a company that currently pays a high dividend and has attracted clientele whose investment goal is to obtain stock with a high dividend payout. If the company decides to decrease its dividend, these investors will sell their stock and move to another company that pays a higher dividend. As a result, the company's share price will decline.


Investment dictionary. . 2012.

См. также в других словарях:

  • Clientele effect — represents the impact on the stock price that investors would cause in reaction to a change in policy of a company. Consequently, dividend policy won t effect the value of the stock as long as clientele exist, dividend policy is irrelevant.… …   Wikipedia

  • Clientele effect — The grouping of investors who have a preference that the firm follow a particular financing policy, such as the amount of leverage it uses. The New York Times Financial Glossary …   Financial and business terms

  • clientele effect — Describes the tendency of funds or investments to be followed by groups of investors who have similar preferences for a firm which follows a particular financing policy, such as the amount of leverage it uses. Bloomberg Financial Dictionary …   Financial and business terms

  • The Clientele — Infobox musical artist Name = The Clientele Img capt = Img size = Landscape = Background = group or band Alias = Origin = London, England, United Kingdom Genre = Indie pop Years active = 1991present Label = Merge Records Pointy Records Associated …   Wikipedia

  • Эффект клиентской базы — объединение в одну группу акционеров, предпочитающих, чтобы компания следовала определенной финансовой политике. По английски: Clientele effect См. также: Общее собрание акционеров Финансовый словарь Финам …   Финансовый словарь

  • education — /ej oo kay sheuhn/, n. 1. the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life. 2. the act or process of… …   Universalium

  • Germany — /jerr meuh nee/, n. a republic in central Europe: after World War II divided into four zones, British, French, U.S., and Soviet, and in 1949 into East Germany and West Germany; East and West Germany were reunited in 1990. 84,068,216; 137,852 sq.… …   Universalium

  • arts, East Asian — Introduction       music and visual and performing arts of China, Korea, and Japan. The literatures of these countries are covered in the articles Chinese literature, Korean literature, and Japanese literature.       Some studies of East Asia… …   Universalium

  • religion, study of — Introduction       attempt to understand the various aspects of religion, especially through the use of other intellectual disciplines.       The history of mankind has shown the pervasive influences of religion, and thus the study of religion,… …   Universalium

  • CANADA — CANADA, country in northern half of North America and a member of the British Commonwealth. At the beginning of the 21st century, its population of approximately 370,000 Jews made it the world s fourth largest Jewish community after the United… …   Encyclopedia of Judaism


Поделиться ссылкой на выделенное

Прямая ссылка:
Нажмите правой клавишей мыши и выберите «Копировать ссылку»