firms tax payments, in turn increasing the present value of dividend distribution. However, this theory does not consider … corporate tax rate cuts, and tax base incentives (TBIs), such as increased capital allowances. The standard economic theory … accounting constraints on dividend policy into the model for the computation of the ETR and employs the new model to recalculate …

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the … stable. -- Capital income taxation ; dividend policy ; effective marginal tax rates ; financial constraints …

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the … stable. -- capital income taxation ; dividend policy ; effective marginal tax rates ; financial constraints …