to the end of 2017 can be attributed to higher actual and expected dividends. A general improvement in economic activity …

prices and the log dividends. However, the empirical results also show that the cointegrating relationship has changed over …

I investigate the link between dividend taxes and stock prices in a global setting. Based on findings from an open …-economy after-tax capital asset pricing model, I predict that when the U.S. cut its dividend tax rate in 2003, stock prices will … increase for high-dividend yield foreign firms that are eligible for a U.S. income tax treaty. I examine returns for firms …