We compare cross-sectional variation of dividend yields of companies across 32 countries. Beyond the impact of firm …-specific accounting and financial variables, this study investigates how the variations in country level variables affect dividend payout … transparency and liquidity. We find that dividend yields are higher when diverse shareholder demands are strong, extents of …

We investigated the relation between changes in cash dividend payments, non-public tradable shares, and the percentage …

classical system. Theory suggests that both price drop ratios and trading volume decrease following the reform. We document a … signi cant reduction in the valuation of net dividends - in particular for high dividend yield stocks - and weakening payout … policy tax clienteles. Ex-dividend day returns are likely to be driven by short-term traders. Though the reform removed …

This paper investigates factors affecting stockholder dividend preferences. The optional dividends paid by Hong Kong … firms provide a unique natural experiment for testing dividend preference in a tax free setting. When offered the … offered, but not stock risk and return. These results show how dividend preference is framed both by returns and by the type …

that family firms exhibit a higher propensity and level for dividend payouts. Further tests indicate that this result is …

This study investigates the relationship between dividend yields and stock returns in bull and bear markets. Evidences … from developed countries show that there should be a positive correlation between dividend yields and stock return in bear … markets and a negative correlation between dividend yields and stock return during the bull markets. Findings of this study …

Ceteris paribus, a large dividend payout ratio decreases the capital ratio of a bank. Under deposit insurance …

We develop a discrete choice recursive model that classifies companies with and without dividend reinvestment plans …, suggesting that financial statements foreshadow changes in plan status. Companies that add dividend reinvestment plans tend to …

This paper shows that for a sample of firms offering SEOs non dividend paying firms experienced larger valuation gains … from the 2003 dividend tax cut as compared to dividend paying firms. Using a growth option valuation framework, our … findings indicate that the growth option revaluation benefited the non dividend paying firms more. In particular, the book …