dividend growth rates of the aggregate stock market. This approach aggregates information contained in the history of price-dividend … ratios and dividend growth rates to predict future returns and dividend growth rates. We find that returns and dividend … growth rates are predictable with R-squared values ranging from 8.2% to 8.9% for returns and 13.9% to 31.6% for dividend …

constraint returns help explain returns" following initial public offerings and dividend omissions. We find only limited support …

investment to internal funds could be detected for firms with higher dividend payout and lower surtax liability. In addition …

retaining earnings. This alternative view holds that while changes in the dividend tax rate will affect shareholder wealth, they … these two views of dividend taxation. By extending Tobin's "q" theory of investment to incorporate taxes at both the … time series data are particularly appropriate for testing hypotheses about dividend taxes because of the substantial …