Showing 1 - 10 of 1,500
This paper investigates the effects of increased cash dividend payout, and of quot;forced realizations~ of capital … United States, Great Britain, and Canada suggests that higher dividend tax rates lower consumption. This is consistent with …
Persistent link: https://www.econbiz.de/10012762734
This paper analyzes the financial flows from foreign subsidiaries of American multinational corporations to their parent corporations in the U.S. These repatriations are important not only to U.S. investors, who thereby have access to those funds, but also to the U.S. government, which generally...
Persistent link: https://www.econbiz.de/10013252322
Statistics of Income data for dividend and interest income earned by U.S. households from 1954 to 1980. To illustrate the effects …
Persistent link: https://www.econbiz.de/10013324146
The U.S. corporate governance system has recently been heavily criticized, largely as a result of failures at Enron, WorldCom, Tyco and some other prominent companies. Those failures and criticisms, in turn, have served as catalysts for legislative change (Sarbanes-Oxley Act of 2002) and...
Persistent link: https://www.econbiz.de/10012767754
In this paper, we review the literature on private benefits and cross-listings in the United States. We first discuss the alternative approaches used to measure private benefits. We survey recent evidence documenting cross-country differences in the levels of private benefits obtained by...
Persistent link: https://www.econbiz.de/10012752689
Legal records indicate that conflicts of interest -- that is, situations in which officers and directors were in a position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late-nineteenth and early-twentieth century U.S. Yet investors...
Persistent link: https://www.econbiz.de/10013324108
We investigate how the contractibility of actions affecting the value of an asset affects asset ownership. We examine this by testing how on-board computer (OBC) adoption affects truck ownership. We develop and test the proposition that adoption should lead to less ownership by drivers,...
Persistent link: https://www.econbiz.de/10013228614
was exacerbated by large scale payments of dividends, in spite of widely anticipated credit losses. Dividend payments …
Persistent link: https://www.econbiz.de/10013128263
We empirically decompose the S&P 500's dividend yield into (1) a rational forecast of long-run real dividend growth, (2 …) the subjectively expected risk premium, and (3) residual mispricing attributed to the market's forecast of dividend growth …
Persistent link: https://www.econbiz.de/10013133237
We recover prices of dividend strips on the aggregate stock market using data from derivatives markets. The price of a … k-year dividend strip is the present value of the dividend paid in k years. The value of the stock market is the sum of … all dividend strip prices across maturities. We study the properties of strips and find that expected returns, Sharpe …
Persistent link: https://www.econbiz.de/10013137025