We analyze a firm's choice between dividend payments and stock repurchases under heterogeneous beliefs and the … of its equity, choose between paying out its cash available through a dividend payment or a stock repurchase, as well as …. Finally, we develop a number of new results characterizing a firm's long-run stock returns following dividend payments and …

How do dividend taxes affect stock volatility? In this paper, I use a decrease in dividend taxes as a natural … contract, changes in stock volatility due to dividend taxes may increase agency costs and therefore decrease overall welfare … experiment to identify their impact on firm's price volatility. If a risk-averse executive faces price risk through his incentive …

We take a simple q-theory model and ask how well it can explain external financing anomalies, both qualitatively and …

This paper finds that dividend signaling hypothesis is able to explain the phenomenon of assets concentration in short … and medium investments in Islamic Interest-Free banking (IIFBs). In this paper a dividend signaling model framework has … been introduced, where in the process of maintaining a stable dividend, mangers of Islamic Interest-Free banking (IIFBs …

Modelling the volatility (or kurtosis) of the implied volatility is an important aspect of financial markets when … GARCH systems to model the volatility of the FTSE 100 Implied Volatility Index (IV). We use GARCH, EGARCH, GJR-GARCH and … other asymmetric models unless there is exceptionally high volatility such as the crisis of 2008 in which case EGARCH …

This paper proposes Spillover Persistence as a measure for financial fragility. The volatility paradox predicts that … fragility builds up when volatility is low, which challenges existing measures. Spillover Persistence tackles this challenge by …. Variation in financial constraints connects Spillover Persistence to fragility. The results are consistent with the volatility …