The paper is aimed to analyze and evaluate the dividend announcement impact on stock prices of companies listed on the NASDAQ OMX Baltic market during 2010-2015. The analysis was performed using the market model event study analysis and calculating AARs based on 3 strategies, which assume that investors buy shares 30 days prior to the dividend announcement and sell them either 1, 3 or 7 days after the dividend announcement. During the research period, dividends were paid by 40 out of 72 companies listed on the NASDAQ OMX Baltic. A total of 168 dividend announcements have been made and analyzed in this paper. The results of the research revealed that within the analyzed event windows, positive AARs exist; however, they are not statistically significant. Positive AARs obtained 3 or 7 days after the dividend announcement imply that stock prices do not drop shortly after the dividend announcement, which would indicate weak NASDAQ OMX Baltic market efficiency.
Many scholars have argued that increasing an average income did not raise an average subjective well-being, a claim that became known as Happiness Paradox, namely Easterlin Paradox. The present article has focused on the theoretical and practical aspects of the relationships of subjective well-being and income but a special focus is on the assessment the validity of this claim in comparisons of both rich and poor countries, as well as over a short, medium and long period. Analyzing multiple datasets, multiple definitions of "basic needs" and multiple questions about well-being, we have not found any support for Easterlin Paradox over a shortterm period. The relationship between well-being and income is roughly linear-log and does not diminish as incomes rise. However, higher income is no longer associated with higher in subjective well-being over the long period.
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