Hackethal, Andreas; Hanspal, Tobin; Hartzmark, Samuel M.; … - 2024
We educate investors with significant dividend holdings about the benefits of dividend reinvestment and the costs of … misperceiving dividends as additional, free income. The intervention increases planned dividend reinvestment in survey responses …. Using trading records, we observe a corresponding causal increase in dividend reinvestment in the field of roughly 50 cents …