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A Theory of Dividends Based on Tax Clienteles

Citations

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Cited by:

  1. Jeon, Jin Q. & Lee, Cheolwoo & Moffett, Clay M., 2011. "Effects of foreign ownership on payout policy: Evidence from the Korean market," Journal of Financial Markets, Elsevier, vol. 14(2), pages 344-375, May.
  2. Dai, Qinglei & Rydqvist, Kristian, 2007. "Investigation of the Costly-Arbitrage Model of Price Formation Around the Ex-Dividend Day," CEPR Discussion Papers 6074, C.E.P.R. Discussion Papers.
  3. He, Wen & Ng, Lilian & Zaiats, Nataliya & Zhang, Bohui, 2017. "Dividend policy and earnings management across countries," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 267-286.
  4. Malcolm Baker & Brock Mendel & Jeffrey Wurgler, 2016. "Dividends as Reference Points: A Behavioral Signaling Approach," Review of Financial Studies, Society for Financial Studies, vol. 29(3), pages 697-738.
  5. repec:eee:jbfina:v:81:y:2017:i:c:p:221-235 is not listed on IDEAS
  6. Fayez A. Elayan & Jingyu Li & Maureen E. Donnelly & Allister W. Young, 2009. "Changes to Income Trust Taxation in Canada: Investor Reaction and Dividend Clientele Theory," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(5-6), pages 725-753.
  7. Ashraf, Badar Nadeem & Bibi, Bushra & Zheng, Changjun, 2016. "How to regulate bank dividends? Is capital regulation an answer?," Economic Modelling, Elsevier, vol. 57(C), pages 281-293.
  8. Alzahrani, Mohammed & Lasfer, Meziane, 2012. "Investor protection, taxation, and dividends," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 745-762.
  9. Huizinga, Harry & Laeven, Luc & Nicodeme, Gaetan, 2008. "Capital structure and international debt shifting," Journal of Financial Economics, Elsevier, vol. 88(1), pages 80-118, April.
  10. Fairchild, Richard & Guney, Yilmaz & Thanatawee, Yordying, 2014. "Corporate dividend policy in Thailand: Theory and evidence," International Review of Financial Analysis, Elsevier, vol. 31(C), pages 129-151.
  11. Minnick, Kristina & Rosenthal, Leonard, 2014. "Stealth compensation: Do CEOs increase their pay by influencing dividend policy?," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 435-454.
  12. repec:eee:quaeco:v:65:y:2017:i:c:p:328-345 is not listed on IDEAS
  13. Raj Chetty & Emmanuel Saez, 2007. "An Agency Theory of Dividend Taxation," NBER Working Papers 13538, National Bureau of Economic Research, Inc.
  14. Demiralp, Ilhan & D'Mello, Ranjan & Schlingemann, Frederik P. & Subramaniam, Venkat, 2011. "Are there monitoring benefits to institutional ownership? Evidence from seasoned equity offerings," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1340-1359.
  15. Harris, Lawrence E. & Hartzmark, Samuel M. & Solomon, David H., 2015. "Juicing the dividend yield: Mutual funds and the demand for dividends," Journal of Financial Economics, Elsevier, vol. 116(3), pages 433-451.
  16. repec:dau:papers:123456789/15219 is not listed on IDEAS
  17. Clemens Sialm, 2006. "Investment Taxes and Equity Returns," NBER Working Papers 12146, National Bureau of Economic Research, Inc.
  18. Mori, Naoya & Ikeda, Naoshi, 2015. "Majority support of shareholders, monitoring incentive, and dividend policy," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 1-10.
  19. Lel, Ugur, 2012. "Currency hedging and corporate governance: A cross-country analysis," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 221-237.
  20. Weston, J. Fred & Siu, Juan A., 2003. "Changing Motives for Share Repurchases," University of California at Los Angeles, Anderson Graduate School of Management qt9146588t, Anderson Graduate School of Management, UCLA.
  21. Gürtler, Marc & Hartmann, Nora, 2003. "Behavioral dividend policy," Working Papers FW04V1, Technische Universität Braunschweig, Institute of Finance.
  22. Brav, Alon & Graham, John R. & Harvey, Campbell R. & Michaely, Roni, 2005. "Payout policy in the 21st century," Journal of Financial Economics, Elsevier, vol. 77(3), pages 483-527, September.
  23. Joohee Park & Chune Young Chung, 2016. "CEO Overconfidence, Leadership Ethics, and Institutional Investors," Sustainability, MDPI, Open Access Journal, vol. 9(1), pages 1-28, December.
  24. Golbe, Devra L. & Nyman, Ingmar, 2013. "How do share repurchases affect ownership concentration?," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 22-40.
  25. Poterba, James M., 2002. "Taxation, risk-taking, and household portfolio behavior," Handbook of Public Economics,in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 17, pages 1109-1171 Elsevier.
  26. Kartal Demirgüneþ, 2015. "Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 5(2), pages 418-426.
  27. Mihir A. Desai & C. Fritz Foley & James R. Hines Jr., 2002. "Dividend Policy inside the Firm," NBER Working Papers 8698, National Bureau of Economic Research, Inc.
  28. Karpavičius, Sigitas, 2014. "Dividends: Relevance, rigidity, and signaling," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 289-312.
  29. Fabio Braggion & Lyndon Moore, 2011. "Dividend Policies in an Unregulated Market: The London Stock Exchange, 1895--1905," Review of Financial Studies, Society for Financial Studies, vol. 24(9), pages 2935-2973.
  30. Chang, Kiyoung & Kang, Eun & Li, Ying, 2016. "Effect of institutional ownership on dividends: An agency-theory-based analysis," Journal of Business Research, Elsevier, vol. 69(7), pages 2551-2559.
  31. Lee, Yi-Tsung & Liu, Yu-Jane & Roll, Richard & Subrahmanyam, Avanidhar, 2006. "Taxes and dividend clientele: Evidence from trading and ownership structure," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 229-246, January.
  32. Maria I. Marika Santoro & Chao D. Wei, 2008. "The Impact of Progressive Dividend Taxation on Investment Decisions: Working Paper 2008-03," Working Papers 19630, Congressional Budget Office.
  33. Fazakas, Gergely & Kosárka, Judit, 2008. "Osztalékpolitikai elméletek
    [Dividend policy theories]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 782-806.
  34. Buchanan, Bonnie & Cao, Xuying (Cathy) & Liljeblom, Eva & Weihrich, Susan, 2016. "Uncertainty and firm dividend policy – a natural experiment," Research Discussion Papers 11/2016, Bank of Finland.
  35. Buchanan, Bonnie G. & Cao, Cathy Xuying & Liljeblom, Eva & Weihrich, Susan, 2017. "Uncertainty and firm dividend policy—A natural experiment," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 179-197.
  36. Fernando, Chitru S. & Gatchev, Vladimir A. & Spindt, Paul A., 2010. "Institutional Ownership, Analyst Following and Share Prices," Working Papers 10-07, University of Pennsylvania, Wharton School, Weiss Center.
  37. Clemens Sialm, 2009. "Tax Changes and Asset Pricing," American Economic Review, American Economic Association, vol. 99(4), pages 1356-1383, September.
  38. Rashid Ameer, 2008. "Product market competition, regulation and dividend payout policy of Malaysian banks," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 16(4), pages 318-334, November.
  39. repec:eee:quaeco:v:65:y:2017:i:c:p:158-167 is not listed on IDEAS
  40. Takashi Hatakeda, 2012. "R&D Investment Smoothing and Corporate Diversification," Discussion Papers 2012-42, Kobe University, Graduate School of Business Administration.
  41. Roni Michaely & Stefano Rossi & Michael Weber, 2017. "The Information Content of Dividends: Safer Profits, Not Higher Profits," CESifo Working Paper Series 6751, CESifo Group Munich.
  42. Henryk Gurgul & Pawel Majdosz, 2005. "Effect of dividend and repurchase announcements on the polish stock market," Operations Research and Decisions, Wroclaw University of Technology, Institute of Organization and Management, vol. 1, pages 25-41.
  43. Trojanowski, G., 2004. "Ownership structure as a mechanism of corporate governance," Other publications TiSEM 5dbc874d-d1d0-44a5-9717-8, Tilburg University, School of Economics and Management.
  44. Luís Krug Pacheco & Clara Raposo, 2009. "ON the TIMING of INITIAL STOCK REPURCHASES," Working Papers de Gestão (Management Working Papers) 06, Católica Porto Business School, Universidade Católica Portuguesa.
  45. Jain, Ravi, 2007. "Institutional and individual investor preferences for dividends and share repurchases," Journal of Economics and Business, Elsevier, vol. 59(5), pages 406-429.
  46. Chai, D.H., 2010. "Foreign Corporate Ownership and Dividends," Working Papers wp401, Centre for Business Research, University of Cambridge.
  47. Longstaff, Francis A. & Piazzesi, Monika, 2004. "Corporate earnings and the equity premium," Journal of Financial Economics, Elsevier, vol. 74(3), pages 401-421, December.
  48. Norman Schurhoff, 2004. "Capital gains taxes, irreversible investment, and capital structure," 2004 Meeting Papers 592b, Society for Economic Dynamics.
  49. Lily Qiu, 2005. "Managerial Reputation Concerns, Outside Monitoring, and Investment Efficiency," Working Papers 2005-08, Brown University, Department of Economics.
  50. Mathias Drehmann & Steffen Sorensen & Marco Stringa, 2007. "Integrating credit and interest rate risk: A theoretical framework and an application to banks' balance sheets," Money Macro and Finance (MMF) Research Group Conference 2006 151, Money Macro and Finance Research Group.
  51. Luc Renneboog & Grzegorz Trojanowski, 2007. "Control structures and payout policy," Managerial Finance, Emerald Group Publishing, vol. 33(1), pages 43-64, January.
  52. Wang, Jin-Ying, 2014. "Controlling shareholder entrenchment: Bonuses versus dividends," International Review of Economics & Finance, Elsevier, vol. 32(C), pages 143-158.
  53. Bechman, Ken L. & Raaballe, Johannes, 2006. "Taxable Cash Dividends," Working Papers 2005-4, Copenhagen Business School, Department of Finance.
  54. Hyo Kim & Hoje Jo & Soon Yoon, 2013. "Controlling shareholders’ opportunistic use of share repurchases," Review of Quantitative Finance and Accounting, Springer, vol. 41(2), pages 203-224, August.
  55. Frank Gyamfi-Yeboah & Alan Ziobrowski & Philip Seagraves, 2014. "Institutional Ownership and the Dynamics of Trading Volume around FFO Announcements," The Journal of Real Estate Finance and Economics, Springer, vol. 49(1), pages 73-90, July.
  56. Liang Shao & Chuck C.Y. Kwok & Omrane Guedhami, 2013. "Dividend Policy: Balancing Shareholders' And Creditors' Interests," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(1), pages 43-66, January.
  57. Thomas David & Edith Ginglinger, 2015. "When Cutting Dividends Is Not Bad News: The Case Of Optional Stock Dividends," Post-Print hal-01637541, HAL.
  58. Oskar Kowalewski & Ivan Stetsyuk & Oleksandr Talavera, 2007. "Corporate Governance and Dividend Policy in Poland," Discussion Papers of DIW Berlin 702, DIW Berlin, German Institute for Economic Research.
  59. repec:spr:jecfin:v:41:y:2017:i:3:d:10.1007_s12197-016-9362-x is not listed on IDEAS
  60. Sheikh Taher Abu, 2012. "Determinants of dividend payout policy: Evidence from Bangladesh," International Journal of Economic Practices and Theories, Academy of Economic Studies - Bucharest, Romania, vol. 2(3), pages 119-126, July.
  61. Fernando, Chitru S. & Gatchev, Vladimir A. & Spindt, Paul A., 2012. "Institutional ownership, analyst following, and share prices," Journal of Banking & Finance, Elsevier, vol. 36(8), pages 2175-2189.
  62. Parrino, Robert & Sias, Richard W. & Starks, Laura T., 2003. "Voting with their feet: institutional ownership changes around forced CEO turnover," Journal of Financial Economics, Elsevier, vol. 68(1), pages 3-46, April.
  63. Lee, King Fuei, 2010. "Retail minority shareholders and corporate reputation as determinant of dividend policy in Australia," Pacific-Basin Finance Journal, Elsevier, vol. 18(4), pages 351-368, September.
  64. Giannetti, Mariassunta & Simonov, Andrei, 2003. "Which Investors Fear Expropriation? Evidence from Investors' Stock Picking," CEPR Discussion Papers 3843, C.E.P.R. Discussion Papers.
  65. Hull, Tyler J., 2015. "How the timing of dividend reductions can signal value," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 114-131.
  66. James C. Brau & Andrew Holmes, 2006. "Why Do REITs Repurchase Stock? Extricating the Effect of Managerial Signaling in Open Market Share Repurchase Announcements," Journal of Real Estate Research, American Real Estate Society, vol. 28(1), pages 1-24.
  67. Henryk Gurgul & Pawel Majdosz & Roland Mestel, 2007. "Zur Verwendung von Regressionsmodellen im Rahmen von finanzwirtschaftlichen Ereignisstudien," Managerial Economics, AGH University of Science and Technology, Faculty of Management, vol. 1, pages 121-142.
  68. James C. Brau & Andrew Holmes, 2001. "Using REITs to Extricate the Effect of Managerial Signalling in Open Market Share Repurchase Announcements," ERES eres2001_123, European Real Estate Society (ERES).
  69. Mihir A. Desai & Li Jin, 2007. "Institutional Tax Clienteles and Payout Policy," NBER Working Papers 13283, National Bureau of Economic Research, Inc.
  70. repec:eee:finlet:v:23:y:2017:i:c:p:69-79 is not listed on IDEAS
  71. Richard Hofler & Julie Ann Elston & Junsoo Lee, 2004. "Dividend Policy and Institutional Ownership: Empirical Evidence using a Propensity Score Matching Estimator," Papers on Entrepreneurship, Growth and Public Policy 2004-27, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  72. Renneboog, Luc & Trojanowski, Grzegorz, 2011. "Patterns in payout policy and payout channel choice," Journal of Banking & Finance, Elsevier, vol. 35(6), pages 1477-1490, June.
  73. Henry, Darren, 2011. "Ownership structure and tax-friendly dividends," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2747-2760, October.
  74. Ebrahim, M. Shahid & Mathur, Ike, 2013. "On the efficiency of the UPREIT organizational form: Implications for the subprime crisis and CDO's," Journal of Economic Behavior & Organization, Elsevier, vol. 85(C), pages 286-305.
  75. Dai, Qinglei & Rydqvist, Kristian, 2009. "Investigation of the costly-arbitrage model of price formation around the ex-dividend day in Norway," Journal of Empirical Finance, Elsevier, vol. 16(4), pages 582-596, September.
  76. Jan Bena & Jan Hanousek, 2008. "Rent Extraction by Large Shareholders: Evidence Using Dividend Policy in the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 58(03-04), pages 106-130, May.
  77. David, Thomas & Ginglinger, Edith, 2016. "When cutting dividends is not bad news: The case of optional stock dividends," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 174-191.
  78. Martijn Boermans & Rients Galema, 2017. "Pension funds carbon footprint and investment trade-offs," DNB Working Papers 554, Netherlands Central Bank, Research Department.
  79. Geiler, Philipp & Renneboog, Luc, 2015. "Taxes, earnings payout, and payout channel choice," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 178-203.
  80. Hubert De La Bruslerie, 2015. "Analysts' forecast revisions and informativeness of the acquirer's stock after M&A transactions," Post-Print hal-01505385, HAL.
  81. Dahlquist, Magnus & Robertsson, Göran & Rydqvist, Kristian, 2007. "Direct Evidence of Dividend Tax Clienteles," SIFR Research Report Series 51, Institute for Financial Research.
  82. Jabbouri, Imad, 2016. "Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets," Research in International Business and Finance, Elsevier, vol. 37(C), pages 283-298.
  83. Kazuki Onji & Masanori Orihara, "undated". "Taxes, stock ownership, and payout policy: Evidence from a 2011 tax reform in Japan," Discussion papers ron278, Policy Research Institute, Ministry of Finance Japan.
  84. Hubert De La Bruslerie, 2013. "Share repurchase: Does it increase the informativeness of market prices?," Post-Print hal-01492197, HAL.
  85. Florackis, Chris & Kanas, Angelos & Kostakis, Alexandros, 2015. "Dividend policy, managerial ownership and debt financing: A non-parametric perspective," European Journal of Operational Research, Elsevier, vol. 241(3), pages 783-795.
  86. Agrawal, Ashwini K., 2012. "Corporate governance objectives of labor union shareholders: evidence from proxy voting," LSE Research Online Documents on Economics 69609, London School of Economics and Political Science, LSE Library.
  87. Dahlquist, Magnus & Robertsson, Göran & Rydqvist, Kristian, 2014. "Direct evidence of dividend tax clienteles," Journal of Empirical Finance, Elsevier, vol. 28(C), pages 1-12.
  88. Yudan Zheng, 2010. "Heterogeneous institutional investors and CEO compensation," Review of Quantitative Finance and Accounting, Springer, vol. 35(1), pages 21-46, July.
  89. Kulchania, Manoj, 2013. "Catering driven substitution in corporate payouts," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 180-195.
  90. Levent Güntay & N. R. Prabhala & Haluk Unal, "undated". "Callable Bonds and Hedging," Center for Financial Institutions Working Papers 02-13, Wharton School Center for Financial Institutions, University of Pennsylvania.
  91. Giannetti, Mariassunta & Simonov, Andrei, 2002. "Which Investors Fear Expropriation?," SIFR Research Report Series 10, Institute for Financial Research.
  92. Baker, H. Kent & Powell, Gary E. & Veit, E. Theodore, 2002. "Revisiting the dividend puzzle: Do all of the pieces now fit?," Review of Financial Economics, Elsevier, vol. 11(4), pages 241-261.
  93. Truong, Thanh & Heaney, Richard, 2007. "Largest shareholder and dividend policy around the world," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(5), pages 667-687, December.
  94. Chitru S. Fernando & Srinivasan Krishnamurthy & Paul A. Spindt, 2002. "Is the Offer Price in IPOs Informative? Underpricing, Ownership Structure, and Performance," Center for Financial Institutions Working Papers 01-33, Wharton School Center for Financial Institutions, University of Pennsylvania.
  95. Henryk Gurgul & Pawe³ Majdosz & Roland Mestel, 2006. "Implications of Dividend Announcements for the Stock Prices and Trading Volumes of DAX Companies (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 56(1-2), pages 58-68, January.
  96. Jacob, Martin & Alstadsæter, Annette, 2013. "Payout policies of privately held firms: Flexibility and the role of income taxes," arqus Discussion Papers in Quantitative Tax Research 152, arqus - Arbeitskreis Quantitative Steuerlehre.
  97. Matthias Nnadi & Nyema Wogboroma & Bariyima Kabel, 2013. "Determinants of Dividend Policy: Evidence from Listed Firms in the African Stock Exchanges," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(6), pages 725-741, December.
  98. Avkiran, Necmi K. & Goto, Mika, 2011. "A tool for scrutinizing bank bailouts based on multi-period peer benchmarking," Pacific-Basin Finance Journal, Elsevier, vol. 19(5), pages 447-469, November.
  99. Beladi, Hamid & Chao, Chi Chur & Hu, May, 2016. "The Christmas effect—Special dividend announcements," International Review of Financial Analysis, Elsevier, vol. 43(C), pages 15-30.
  100. Jain, Bharat A. & Shekhar, Chander & Torbey, Violet, 2009. "Payout initiation by IPO firms: The choice between dividends and share repurchases," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(4), pages 1275-1297, November.
  101. Carlos Martins, 2007. "Consistency of Dividend Signalling and Future Maturity Level:Evidence from UK Data," Working Papers de Economia (Economics Working Papers) 40, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  102. Anthony M. Diercks & William Waller, 2017. "Taxes and the Fed : Theory and Evidence from Equities," Finance and Economics Discussion Series 2017-104, Board of Governors of the Federal Reserve System (U.S.).
  103. repec:dau:papers:123456789/11381 is not listed on IDEAS
  104. Fuller, Kathleen P. & Goldstein, Michael A., 2011. "Do dividends matter more in declining markets?," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 457-473, June.
  105. Jagannathan, Murali & Stephens, Clifford P. & Weisbach, Michael S., 2000. "Financial flexibility and the choice between dividends and stock repurchases," Journal of Financial Economics, Elsevier, vol. 57(3), pages 355-384, September.
  106. Desai, Mihir A. & Jin, Li, 2011. "Institutional tax clienteles and payout policy," Journal of Financial Economics, Elsevier, vol. 100(1), pages 68-84, April.
  107. Laura Kawano, 2014. "The Dividend Clientele Hypothesis: Evidence from the 2003 Tax Act," American Economic Journal: Economic Policy, American Economic Association, vol. 6(1), pages 114-136, February.
  108. Malcolm Baker & Jeffrey Wurgler, 2004. "A Catering Theory of Dividends," Journal of Finance, American Finance Association, vol. 59(3), pages 1125-1165, June.
  109. Maydew, Edward L., 2001. "Empirical tax research in accounting: A discussion," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 389-403, September.
  110. Hartzmark, Samuel M. & Solomon, David H., 2013. "The dividend month premium," Journal of Financial Economics, Elsevier, vol. 109(3), pages 640-660.
  111. Koussis, Nicos & Martzoukos, Spiros H. & Trigeorgis, Lenos, 2017. "Corporate liquidity and dividend policy under uncertainty," Journal of Banking & Finance, Elsevier, vol. 75(C), pages 200-214.
  112. repec:dau:papers:123456789/14996 is not listed on IDEAS
  113. Bogdan Stacescu, 2006. "Dividend Policy in Switzerland," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 20(2), pages 153-183, June.
  114. Chinmoy Ghosh & Le Sun, 2014. "Agency Cost, Dividend Policy and Growth: The Special Case of REITs," The Journal of Real Estate Finance and Economics, Springer, vol. 48(4), pages 660-708, May.
  115. Thomas McCluskey & Bruce Burton & David Power, 2007. "Evidence on Irish financial directors' views about dividends," Qualitative Research in Accounting & Management, Emerald Group Publishing, vol. 4(2), pages 115-132, June.
  116. repec:eee:finana:v:52:y:2017:i:c:p:38-48 is not listed on IDEAS
  117. Aaro Hazak, 2006. "Dividend Decision under Distributed Profit Taxation: Investorís Perspective," Working Papers 145, Tallinn School of Economics and Business Administration, Tallinn University of Technology.
  118. Robert A. Weigand & H. Kent Baker, 2009. "Changing perspectives on distribution policy: The evolution from dividends to share repurchase," Managerial Finance, Emerald Group Publishing, vol. 35(6), pages 479-492, May.
  119. von Kalckreuth, Ulf & Chirinko, Robert S., 2002. "Further Evidence On The Relationship Between Firm Investment And Financial Status," Discussion Paper Series 1: Economic Studies 2002,28, Deutsche Bundesbank.
  120. Jia-Wen Liang & Mei-Feng Lin & Chen-Lung Chin, 2012. "Does foreign institutional ownership motivate firms in an emerging market to increase voluntary disclosure? Evidence from Taiwan," Review of Quantitative Finance and Accounting, Springer, vol. 39(1), pages 55-76, July.
  121. Amira, Khaled & Muzere, Mark L., 2011. "Competition among stock exchanges for equity," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2355-2373, September.
  122. Fernando, Chitru S. & Krishnamurthy, Srinivasan & Spindt, Paul A., 2004. "Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms," Journal of Financial Markets, Elsevier, vol. 7(4), pages 377-403, October.
  123. Onali, Enrico & Galiakhmetova, Ramilya & Molyneux, Philip & Torluccio, Giuseppe, 2016. "CEO power, government monitoring, and bank dividends," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 89-117.
  124. Igan, Deniz & de Paula, Aureo & Pinheiro, Marcelo, 2006. "Liquidity and Dividend Policy," MPRA Paper 29409, University Library of Munich, Germany, revised 2010.
  125. Hubert De La Bruslerie, 2013. "Share repurchase: Does it increase the informativeness of market prices?," Post-Print halshs-00937565, HAL.
  126. Javakhadze, David & Ferris, Stephen P. & Sen, Nilanjan, 2014. "An international analysis of dividend smoothing," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 200-220.
  127. Henry L. Friedman & Mirko S. Heinle, 2016. "Taste, information, and asset prices: implications for the valuation of CSR," Review of Accounting Studies, Springer, vol. 21(3), pages 740-767, September.
  128. Chitru S. Fernando & Vladimir A. Gatchev & Paul A. Spindt, 2013. "IPO offer price selection, institutional subscription, and the value of the firm: theory and evidence," Chapters,in: Handbook of Research on IPOs, chapter 5, pages 101-123 Edward Elgar Publishing.
  129. Hung, Weifeng, 2014. "Institutional trading and attention bias," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 29(C), pages 71-91.
  130. Dahlquist, Magnus & Robertsson, Göran & Rydqvist, Kristian, 2006. "Direct Evidence of Dividend Tax Clienteles," CEPR Discussion Papers 6005, C.E.P.R. Discussion Papers.
  131. Tong, Jiao & Bremer, Marc, 2016. "Stock repurchases in Japan: A solution to excessive corporate saving?," Journal of the Japanese and International Economies, Elsevier, vol. 41(C), pages 41-56.
  132. Benjamin Avanzi & Vincent Tu & Bernard Wong, 2016. "A Note on Realistic Dividends in Actuarial Surplus Models," Risks, MDPI, Open Access Journal, vol. 4(4), pages 1-9, October.
  133. Lee, King Fuei, 2013. "Demographics and the long-horizon returns of dividend-yield strategies," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(2), pages 202-218.
  134. Amin, Abu S. & Dutta, Shantanu & Saadi, Samir & Vora, Premal P., 2015. "Institutional shareholding and information content of dividend surprises: Re-examining the dynamics in dividend-reappearance era," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 152-170.
  135. Szilagyi, P.G., 2007. "Corporate governance and the agency costs of debt and outside equity," Other publications TiSEM 9520d40a-224f-43a8-9bf9-b, Tilburg University, School of Economics and Management.
  136. repec:eee:finmar:v:36:y:2017:i:c:p:40-55 is not listed on IDEAS
  137. Dhaliwal, Dan & Zhen Li, Oliver & Trezevant, Robert, 2003. "Is a dividend tax penalty incorporated into the return on a firm's common stock?," Journal of Accounting and Economics, Elsevier, vol. 35(2), pages 155-178, June.
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