persistently affects dividend payments than stock repurchases. It also has a boosting effect on stock returns in the Bush Tax Cut … that is 75 % greater than their reducing effect in the Obama Tax Increase, in absolute terms, controlling for dividend … realize that some dividend-paying firms could change their dividend policies …

We analyze ex day dynamics around the May 2003 dividend tax cut in a framework with arbitrageurs as liquidity providers …

We examine the operating performance subsequent to dividend initiations by comparing firms with similar pre … information content of dividend initiations regarding future earnings is reflected in the long-term reaction …

Recent literature has claimed that the 2003 U.S. dividend tax cut caused a large increase in aggregate dividend payouts …. I document four simple facts that call this claim into question. First, the post-tax cut increase in dividend payouts … coincided with a surge in corporate profits, such that the dividend payout ratio did not rise. Second, share repurchases …

Recent literature has estimated that the 2003 dividend tax cut caused a large increase in aggregate dividend payouts …, which would imply that dividend taxation creates large efficiency costs relative to the amount of revenue raised. I document … that dividend payouts by real estate investment trusts also rose sharply following the tax cut, even though REIT dividends …

the tax-free status of income trusts, instead, on November 23, 2005, they announced a reduction of the tax on dividend …

Dividend taxation is an important component of investors’ taxes and has attracted the attention of policymakers and … financial economists. However, the theory of dividends and the reform of dividend taxation remain a puzzle. This paper analyzes … the effect of dividend taxation on firms’ dividend policies. Using a natural experiment and difference …

periodically in real life, we study periodic dividend strategies whereby dividend decisions are made according to a Poisson arrival … process. In this paper, we investigate the impact of fixed transaction costs on the optimal periodic dividend strategy, and … that bring the surplus back to b _l as long as it is no less than b _u at a dividend decision time …

retained earnings. This recommendation takes two parts: Proposition III, i.e., a dividend has no impact on market value, and ….The purpose of this paper is to analyze non-dividend-distributing companies for positive NPV. I picked companies from the Standard … the null hypothesis should therefore be rejected.The paper also tabulates the assumptions needed for the Dividend …

context, numerous papers considered threshold (refractive) and barrier (reflective) dividend strategies. These were shown to …, motivated by the behaviour of some dividend paying stock exchange companies, we determine the optimal dividend strategy when … surplus exceeds level $a>0$, and all of the excess over $b>a$ as lump sum dividend payments. Results are illustrated …