Question

跪求会计英语方面的高手帮忙翻译一段英文

This paper examines abnormal stock returns in the three years surrounding relatively large changes in dividends announced during the 1971 to 1990 period. The main results are that statistically and economically significant negative post-announcement abnormal returns of 211% and 217% over the post-announcement year are found for firms which decrease dividends and those which omit their dividends. Firms resuming and firms
increasing dividends do not exhibit significant abnormal returns, on average, over the post-announcement year. The pattern of lagged price adjustment to negative dividend change information differs from that reported for ‘earnings surprise’ firms in important respects. While the dividend change firms do exhibit returns behavior consistent with year-to-year returns momentum, differences in prior year returns do not explain the differences
in returns over the post-announcement period.
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Answer 1

LARRY：这份资料根据1971年到1990年期间所公布的股息收益，调查了在相对变化较大的背景下三年期的非正常股票回报情况。其主要成果是从统计学和经济学角度发现了减少股息和取消股息的公司在公告年份内211%-217%非正常回报的巨大负数。
恢复和增加股息的公司，较之前一公告年份，平均看来并未显示出有巨大的非正常回报。滞后价格调整到负股息的变化信息图表与在重要方面报告有“意外盈利”的公司的报告情况有所区别。同时股息上有变化的公司确实显示出与年复一年的 回报动力相符合的回报行动，前一年的回报差额并不能解释公告期的回报差额。{仅供参考}