I examine whether and to what extent tax uncertainty affects a firm's dividend payouts. Based on the argument that tax … uncertainty impairs the persistence and predictability of after-tax cash flows, I hypothesize and find that firms with greater tax … uncertainty exhibit a lower probability of dividend payouts. The effect of tax uncertainty is stronger in the presence of …

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used as a measure to … multinational firms (Luxembourg Leaks). We analyze ATRs as tax uncertainty shields from both the taxpayers' and the tax authorities … high tax uncertainty. Our paper elaborates the theoretical foundation that is essential when planning to use ATR fees as a …

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used as a measure to … multinational firms (Luxembourg Leaks). We analyze ATRs as tax uncertainty shields from both the taxpayers' and the tax authorities … high tax uncertainty. Our paper elaborates the theoretical foundation that is essential when planning to use ATR fees as a …

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used as a measure to … multinational firms (Luxembourg Leaks). We analyze ATRs as tax uncertainty shields from both the taxpayers' and the tax authorities … high tax uncertainty. Our paper elaborates the theoretical foundation that is essential when planning to use ATR fees as a …