# Prof. Jeffrey Wurgler's research on dividend signaling is featured

1 Faculty News August 7, 2012 ![](/sites/default/files/styles/246w/public/assets/images/con_037288.gif?itok=NDyeARbw)>

Excerpt from [HBS Working Knowledge](http://hbswk.hbs.edu/item/7064.html) -- "We outline a dividend signaling approach in which rational managers signal firm strength to investors who are loss averse to reductions in dividends relative to the reference point set by prior dividends."

[Read more](http://hbswk.hbs.edu/item/7064.html)