This paper examines how the effects of dividend taxation on the cost of new equity funds depend on whether or not … shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative … that the shareholders cannot recover their original equity injections without being subject to the dividend tax …

This paper reconsiders the effects of dividend taxation. Particular attention is paid to the form of the "equity trap …

There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment … Finnish dividend tax increase of 2005. This reform creates a useful opportunity to measure enterprise behaviour, since it … old view of dividend taxation …

In this study we explore how a firm-level dividend tax on redistributed foreign profits affects the financial decisions … find a 23 percent increase in dividend payments and a similar increase in repatriated foreign profits after the repeal of …

The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non …-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be … sufficient to infer the efficiency cost of dividend taxation as well as the financing regime of the firm that underlies the …

We test whether dividend taxes affect corporate investments. We exploit Sweden's 2006 dividend tax cut of 10 percentage … data and triple-difference estimators, we find that this dividend tax cut affects allocation of corporate investment. Cash …-constrained firms increase investment after the dividend tax cut relative to cash-rich firms. Reallocation is stronger among closely …

model's predictions, cash-flow volatility changes in the opposite direction from that of dividend changes and larger changes …

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the …