Taxes on capital gains are deferred until realization, whereas dividend taxes are levied upon accrual. This often makes … accelerated realizations - then dividend payments can become tax-efficient. This mechanism is appealing because it jointly …

The paper investigates the effectiveness of dividend-based macroprudential rules in complementing capital requirements … developed to assess the virtues of what shall be called dividend prudential targets. Welfare-maximizing dividend … capital regulation, (iii) they mainly operate through their cyclical component, ensuring that long-run dividend payouts remain …

Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a … challenge to the neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of … empirical verification of research hypothesis stipulating that the number of dividend payers increases if the dividend payers …

sales shocks. As a consequence, competitor inflexibility also affects the stability of firms' total wage- and dividend … inflexibility is associated with less dividend-smoothing and more wagesmoothing. Our evidence supports the idea that labor …

effects of a novel macroprudential policy rule - that I shall call Dividend Prudential Target (DPT) - aimed at complementing …

effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares … dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). …

I examine whether and to what extent tax uncertainty affects a firm's dividend payouts. Based on the argument that tax … uncertainty exhibit a lower probability of dividend payouts. The effect of tax uncertainty is stronger in the presence of … negative effect of tax uncertainty on dividend levels, which is moderated by the costs of dividend reductions. These results …