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求翻译,英翻译汉We document that recent post-IPO banks display very

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求翻译,英翻译汉
We document that recent post-IPO banks display very different dividend behavior than newly public nonfinancial firms, and that this behavior is highly predictive of post-IPO outcomes. Whereas only 3.7% of industrial firms going public had initiated dividends 10 years subsequent to their IPO in theFama and French (2001)sample, we find that 59% of banks not already paying dividends pre-IPO had initiated them post-IPO, on average only 1.6 years after going public. Moreover, over half the banks already paying dividends pre-IPO increased their dividend per share by at least 50% after the IPO. (We here and henceforth refer to all banks and thrifts simply as banks and to dividend initiation and dividend increases jointly as dividend initiations.) Dividend initiation has a profound effect on the ultimate disposition of the bank. Specifically, dividend initiation dramatically increases the likelihood that a recent IPO bank will be acquired by another institution, even after controlling for a wide range of bank.characteristics and
performance measures. In addition, conditional on becoming a takeover target, post-IPO dividend initiation predicts a considerably higher takeover premium; the incremental premium associated with dividend initiation averages around 55% of the stock price in the month prior to the takeover announcement.
我们的材料证明,最近首次公开募股后的银行表现出的股利分配行为与新上市的非金融企业有很大差异,这种行为在很大程度上能预示首次公开募股后的结果.尽管只有3.7%的上市工业企业在首次公开募股10年后才开始分红,但我们发现.
再问: 还有呢?!翻译的真真好啊啊啊