Korkeamaki, Timo; Liljeblom, Eva; Pasternack, Daniel - In: Journal of Corporate Finance 16 (2010) 4, pp. 572-587
Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms' dividend policy...