reduction in the dividend and capital gains tax rates for individuals. We find that directors and officers, but not other …

We test whether executive stock ownership affects firm payouts using the 2003 dividend tax cut to identify an exogenous … dividends after the tax cut in 2003, whereas no relation is found in previous periods when the dividend tax rate was higher …

effects have examined the effects of dividend and capital gains taxes on payouts. Relatively few studies have considered the …

In 2004 Norwegian authorities announced a reform introducing dividend taxation for personal (but not corporate) owners … that dividend payments responded very strongly to the anticipated reform, but also that much of the response was … aggressive dividend maximization policy in anticipation of the reform exhibit lower profits and economic activity in its …

their institutional shareholders indicates that "dividend-averse" institutions are significantly less likely to hold shares … in firms with larger dividend payouts. This relationship between the tax preferences of institutional shareholders and … changes, managers alter their dividend policy to serve their institutional shareholders …

GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …