taxes on stock prices around ex-dividend days while avoiding the non-tax confounds and inter-temporal tests that have … distributions, we provide evidence that abnormal returns and trading volume around ex-dividend days are driven by the component of … the distributions that is most tax-penalized. Our results support a tax-based explanation for ex-dividend day pricing and …

This study examines the relationship between dividend yield and stock returns for firms in the United Arab Emirates …, where there are no taxes on dividend incomes and capital gains. Following methods of Black and Scholes (1974) and …. Our results are robust after we exclude periods with dividend omission and control for Fama-French factors …

dividend-oriented strategies can yield significant alphas. SC stocks adhere to Islamic principles, avoiding activities such as … adopting dividend-oriented strategies. The objective is to study the presence of significant intercepts in 25 size-dividend …. Our methodology involves sorting SC stocks into 25 portfolios based on size and dividend characteristics (dividend yield …

This study analyzes the firm-specific factors affecting the dividend payout decisions of the companies whose shares are …–Bover/Blunder-Bond two-step system generalized method of moments, a statistically significant positive effect on dividend payout was found in … the relationship between the dividend payout of the previous year, the company’s return on equity and the market value …

We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax …-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our … empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant …