to a dividend tax is above the old view double-tax one, (iii) the start-up investment is not affected by undervaluation …, but the discouragement engendered by dividend taxation is compensated by realization-based capital gains tax, (iv) with … suggests, (v) without undervaluation, the dividend tax boosts expansion investment …

cross-section, we show that both dividend levels and changes contain more earnings information among firms with weaker … information through their dividend changes. We show that for firms with strong investment opportunities, because funding … dividend payout …

This paper examines prediction errors in the general dividend discount model using a back-test method. The prediction … varying lengths are examined in our tests. We include firms with a continuous record of dividend payments over the 20 years in …

This paper focuses on dominant owners' use of leverage to finance their blockholdings and its relationship to dividend … following the crisis, dividend payouts increase in proportion to pyramidal debt of dominant owners. We inspect pyramidal …