We examine abnormal stock returns surrounding contemporaneous earnings and dividend announcements in order to determine … interaction effect.The abnormal return corresponding to any earnings or dividend announcement depends upon the value of the other … more credence to unanticipated dividend increases or decreases when earnings are also above or below expectations, and vice …

firm shifts its dividend risk to the upside, which amplifies the overvaluation and explains the premium. Second, we argue … market through a higher share price, but is inefficient from the perspective of dividend value …

This paper investigates the effects of capital gains and dividend taxes on excess returns around announcements of … dividend increases and ex-dividend days for U.S. corporations. Consistent with standard no-arbitrage conditions, we find that … the ex-dividend day premium increased from 2002 to 2004 when the dividend tax rate was cut. Consistent with the signalling …

the most noteworthy may have been the reduction in dividend tax rates. The political debate over the dividend tax … concerning the probability of significant dividend tax reduction fluctuated significantly during 2003. In this paper, we use this … fact to estimate the effects of dividend tax policy on firm value. We find that firms with higher dividend yields benefited …