We test the impact of taxes and governance systems on dividend payouts across countries. We show that, unlike previous …

We compare the cross-sectional variation in the dividend payout policies of companies across 32 countries. Beyond the … shareholder protection and business disclosures, and market quality in terms of transparency and liquidity; affect the dividend … payout policies. We find that firms have generous dividend payout policies when diverse shareholder demands are strong …

For a sample of 28,895 firms across 30 countries and 29 years, there is a negative relation between dividend tax rates … and dividend payout. Firms increase dividend payout in response to both absolute and relative (to capital gains tax rates …) decreases in dividend tax rates. This negative relation is robust to both increases and decreases and both shocks and continuous …

This study examines how dividend taxation affects corporate voluntary disclosure. Using a sample of firms in 32 OECD … countries from 2001 to 2017, our difference-in-differences regressions find that higher dividend tax rates reduce both the … problems are potentially more severe. Also, the effect of dividend tax rates on management forecasts is asymmetric. That is …