We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax …-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our … empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio …

I study the causal effects of personal investment taxes on stock demand, stock returns, and the dividend policy of …-market of the London Stock Exchange, to be held in a capital gains and dividend tax-exempt investment account for the first time …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio … predictability ; dividend-price ratio ; payout policy ; sample selection ; choice of organizational structure …

This paper examines investors' reactions to dividend reductions or omissions conditional on past earnings and dividend … reaction for firms with long patterns of past earnings and dividend payouts is significantly more negative than for firms with …. First, consistent with DeAngelo, DeAngelo, and Skinner (1992), a loss following a long stream of earnings and dividend …

stock return volatilities, and without a stable cash dividend policy, stock return volatilities may unrelated to the …

-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend–price ratio for such … changes resolves several issues with respect to the predictability of stock market returns: The adjusted dividend-price ratio …

We document an asset-pricing anomaly whereby companies have positive abnormal returns in months when a dividend is … predicted. Abnormal returns in predicted dividend months are high relative to other companies, and relative to dividend …-paying companies in months without a predicted dividend, making risk-based explanations unlikely. The anomaly is as large as the value …

following financial crisis to see whether dividend policy appears as significant measure to protect the general shareholders …-out policy after the market crisis and dividend policy does not appear as a significant measure to protect the shareholders …