The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non …-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be … sufficient to infer the efficiency cost of dividend taxation as well as the financing regime of the firm that underlies the …

This paper analyzes the dividend payout by Romanian companies listed on the Bucharest Stock Exchange in connection with … follow two reasons in deciding the dividend payout: to allocate more for investments, or to increase the dividend ratio. Each … paper found no significant correlation between the dividend policy and the corporate tax burden. However, the dividend …

The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non …-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be … sufficient to infer the efficiency cost of dividend taxation as well as the financing regime of the firm that underlies the …

dies die andauernde Nutzung der Dividende als steuerlich diskriminierter Partizipationsmöglichkeit der Eigenkapitalgeber am … ausgeschütteten Dividende eine gleichgerichtete Reaktion des Aktienkurses auslöst. Interpretiert man Dividenden als kostenintensive … Nutzung der Dividende als steuerlich diskriminierter Partizipationsmöglichkeit der Eigenkapitalgeber am Unternehmenserfolg …