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

tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a … corporations' debt-equity ratios. The debt ratios drop sharply after the implementation of the reform. -- Neutral dividend tax …

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. -- corporate income taxation ; dividends ; investment ; tax reform …

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 …

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 …