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this study, a company's dividend policy is influenced by its TD levels, which are controlled by its efficiency and … profitability, efficiency, and dividend distribution choices to ascertain whether the companies' operating effectiveness and … accountability in decisions about dividend distribution, regardless of efficiency and profitability. The study's originality is in …
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In 2003, the United States enacted a tax reform that reduced, but did not eliminate, individual dividend income taxes …. Cutting the dividend tax deprives corporate insiders of a justification for retaining earnings to build unprofitable corporate …
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