capitalisation of future dividend taxes in retained earnings, and it is robust to inclusion of a variety of control variables and … tests for possible alternative explanations. Second, we find that differences in dividend tax rates across U.S. tax regimes …-country variation in dividend tax rates is associated with predictable variation in the implied tax discount. Furthermore, the …

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the …

empirical practice of omitting dividend growth from the system amounts to imposing the extra restriction that dividend growth is … not persistent. We highlight that persistence in dividend growth induces a previously overlooked channel for return … predictability, which we label "dividend momentum." Compared to estimation based on ordinary least squares, our restricted …

classifying the data. The authors use this approach to partition a matched sample of stocks. One group offers dividend … best candidates either to adopt a dividend reinvestment plan (if they have none) or to abandon one (if they currently offer …

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the …

firms tax payments, in turn increasing the present value of dividend distribution. However, this theory does not consider … accounting constraints on dividend policy into the model for the computation of the ETR and employs the new model to recalculate …

Tests for unit roots in log dividend yields, which are consistent with `rational bubbles' in stock prices, are … 10-year segments and use frequency domain analysis to test for the presence of unit roots in the dividend yield data ….The results strongly suggest the existence of bubbles in both the US and Finnish markets.Finally we develop a novel dividend yield …