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and dividends---is incomplete and misleading: it ignores large offsetting equity issuances that move capital from …
Persistent link: https://www.econbiz.de/10012511344
We study the importance of investor rights in payout policy determination in Asia, using a sample of up to 52,778 firm years. The listed Asian firms located in relatively high investor protection, common law countries, have a greater tendency to payout and, if they do so, they tend to pay out...
Persistent link: https://www.econbiz.de/10010741749
payouts for a panel of 5,767 firms from 25 countries for 1990-2008. We find robust evidence that the tax penalty on dividends … versus capital gains is statistically significant and negatively related to firms’ propensity to pay dividends, initiate such … payments, and the amount of dividends paid. Our analysis further reveals that an increase in the dividend tax penalty raises …
Persistent link: https://www.econbiz.de/10008675721
This paper examines cash dividends and share repurchases in Japan - discerning between keiretsu and non … United States, share repurchases in Japan have grown strikingly across firm groupings even relative to cash dividends which … have also increased. Unlike in the United States, cash dividends remain the dominant form of payout across the groupings of …
Persistent link: https://www.econbiz.de/10008852073
behavior in a unique environment in which there are no taxes on dividends and capital gains. The absence of taxes in Oman …
Persistent link: https://www.econbiz.de/10013084419
behavior in a unique environment in which there are no taxes on dividends and capital gains. We find that overnight drop in the …
Persistent link: https://www.econbiz.de/10013048229
Persistent link: https://www.econbiz.de/10010485825
Persistent link: https://www.econbiz.de/10014470002
distributions - dividends and capital gains. This paper empirically analyzes the influence of the tax preferences of individual and … corporate shareholders for the two corporate distribution types - dividends or capital gains - from 1990 to 2012. In the first … have preferred capital gains and corporate shareholders have preferred dividends. To account for these differences …
Persistent link: https://www.econbiz.de/10011634392