This paper explores investors' preference for capital gain and dividend payment. The questionnaire results show that … overall, most investors prefer capital gain over cash dividend. The results from the regression also demonstrate that all … positively related to an investors tendency to prefer dividend payment, with investment income and age having the strongest …

the following days. This dividend pay date effect has strengthened since the 1970s, and is consistent with the temporary … price pressure hypothesis. The pay date effect is concentrated among stocks with dividend reinvestment plans (DRIPs), and is … larger for stocks with a higher dividend yield, greater DRIP participation, and greater limits to arbitrage. Over time …