This paper employs heterogeneity in institutional shareholder tax characteristics to identify the relationship between firm payout policy and tax incentives. Analysis of a panel of firms matched with the tax characteristics of the clients of their institutional shareholders indicates that...

"One of the most important and one of the most heavily studied ethnic networks in the world is overseas Chinese. However, almost all of the analysis on the economic dimensions of the overseas Chinese network has been about the effects of ethnic ties on the aggregate volume of trade or the...