In the classical optimal dividends problem, dividend decisions are allowed to be made at any point in time - according … to a continuous strategy. Depending on the surplus process that is considered and whether dividend payouts are bounded or … combination of parameters a pure continuous, pure periodic or hybrid (including both continuous and periodic dividend payments …

that a dividend barrier strategy is optimal when dividend decisions are made continuously. In practice, however, companies … that are capable of issuing dividends make dividend decisions on a periodic (rather than continuous) basis.In this paper …, we consider a periodic dividend strategy with exponential inter-dividend-decision times and continuous monitoring of …

This paper investigates the cash flow sensitivity of cash dividends in different cash dividend taxation systems. Using … a cross-country study, we find that a firm's dividend policy in a single dividend taxation system (relative to a double … dividend taxation system) is more sensitive to cash flow as measured by the propensity to initiate a cash dividend, propensity …

How do dividend taxes affect stock volatility? In this paper, I use a decrease in dividend taxes as a natural … contract, changes in stock volatility due to dividend taxes may increase agency costs and therefore decrease overall welfare …-neutral shareholders, dividend taxes may exacerbate agency costs. The increase in agency costs will decrease shareholder welfare, which can …

We investigate the effect of a lack of an automated limit order adjustment mechanism on ex-dividend day stock price … than the dividend amount for all dividend sizes. We also find no evidence of a sawtooth-shaped relationship between the … dividend amount and the ex-day price drop. These results are generally consistent with a lack of an automated limit order …

and cash dividends. We find that, in contrast to dividend cuts, shareholders do not view this option as bad news. They … flexibility by allowing temporary cuts in cash outflows without altering their nominal dividend policy …

We investigate the dividend policies of firms in the United Kingdom to understand whether firms in different markets … problems pay lower dividends compared to other AIM firms, in line with the outcome view of agency theory. …

Dividend policy is not set de novo each year, but dividends are smoothed from one year to another. This smoothing leads … to a short-term persistence in dividend policy. In this paper, we investigate the persistence of a dividend policy in the … long run by using a unique sample of firms listed on the Brussels Stock Exchange (BSE) since 1824. The imprinting theory …

Investments in short-term dividend assets outperform investments in the market according to Binsbergen, Brandt, and … to 24 years. We also advocate an interest rate-invariant approach to estimate prices of dividend assets by combining put … dividend returns is flat throughout maturities and varies over the business cycle more than once thought. Moments of the …

International Financial Reporting Standards (IFRS), we investigate whether and how dividend payouts based on unrealized revaluation … earnings affect a firm's default risk. Our results indicate that in the era of fair value accounting, whether the dividend …