We propose an explanation for the "disappearing dividend" phenomenon: the decline in the information content of … dividend announcements. This reduces the propensity of firms to pay or increase dividends, since dividends are costly.(...) …

decline documented by Fama and French (2001). We consider explanations based on fluctuations in dividend clienteles, agency …

We investigate a consumption-based present value relation that is a function of future dividend growth. Using data on … aggregate consumption and measures of the dividend payments from aggregate wealth, we show that changing forecasts of dividend … growth are an important feature of the post-war U.S. stock market, despite the failure of the dividend-price ratio to uncover …

We propose an equity finance model with agency problems and investigate the relationship between dividend taxation and … inefficient investments. Contrary to both the old and the new view of dividend taxation, a fall in the dividend tax rate is found …

killings across space andtime which we use to generate estimates of the peace dividend. Theeconomic model suggests a somewhat …