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The dividend-clientele controversy and the tax reform act of 1986
13 references·0 citing·39 second hop
The dividend-clientele controversy and the tax reform act of 1986 (1993)The dividend-clientele controversy and th…The Impact of the 1986 Tax Reform Act on Ex-Dividend Day Returns (1991)The Impact of the 1986 Tax Re…Ex‐Dividend Day Stock Price Behavior: The Case of the 1986 Tax Reform Act* (1991)Ex‐Dividend Day Stock Price B…Dividends, taxes, and common stock prices (1987)Dividends, taxes, and common …The Ex-Dividend Day Behavior of Stock Prices; A Re-Examination of the Clientele Effect: A Comment (1984)The Ex-Dividend Day Behavior …On interpreting security returns during the ex-dividend period (1984)On interpreting security retu…Tax Reform and Ex-Dividend Day Behavior (1983)Tax Reform and Ex-Dividend Da…The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect (1982)The Ex-Dividend Day Behavior …The effect of personal taxes and dividends on capital asset prices (1979)The effect of personal taxes …SOME DIRECT EVIDENCE ON THE DIVIDEND CLIENTELE PHENOMENON (1978)SOME DIRECT EVIDENCE ON THE D…Dividends and taxes (1978)Dividends and taxesThe effects of dividend yield and dividend policy on common stock prices and returns (1974)The effects of dividend yield…Marginal Stockholder Tax Rates and the Clientele Effect (1970)Marginal Stockholder Tax Rate…STOCK PRICE BEHAVIOR ON EX‐DIVIDEND DATES (1955)STOCK PRICE BEHAVIOR ON EX‐DI…The Association Between Market Determined and Accounting Determined Risk Measures. (1970)The valuation effects of stock splits and stock dividends (1984)Are Seasonal Anomalies Real? A Ninety-Year Perspective (1988)Closed-end fund premia and returns implications for financial market equilibrium (1995)Do Dividend Clienteles Exist? Evidence on Dividend Preferences of Retail Investors (2006)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Risk, Return, and Equilibrium: Empirical Tests (1973)The relationship between return and market value of common stocks (1981)Digesting Anomalies: An Investment Approach (2012)… and the Cross-Section of Expected Returns (2015)The Adjustment of Stock Prices to New Information (1969)Stock returns and the weekend effect (1980)The real term structure and consumption growth (1988)Stock Prices and the Supply of Information (1991)The Adjustment of Stock Prices to New Information (2003)Dividend Policy, Growth, and the Valuation of Shares (1961)Applied Linear Statistical Models. (1975)Measuring security price performance (1980)Dividends and Taxes: Some Empirical Evidence (1982)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Tax-induced trading around ex-dividend days (1986)Job Market Signaling (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Some anomalous evidence regarding market efficiency (1978)Efficient Capital Markets: II (1991)Is Information Risk a Determinant of Asset Returns? (2002)The Investment, Financing, and Valuation of the Corporation (1963)A Theory of Dividends Based on Tax Clienteles (2000)Exchange Rates and Fundamentals (2005)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)DEBT AND TAXES* (1977)Home Bias in Equity Portfolios, Inflation Hedging, and International Capital Market Equilibrium (1994)Using daily stock returns (1985)Trading Volume: Definitions, Data Analysis, and Implications of Portfolio Theory (2000)Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex‐Dividend Pricing before and after Decimalization (2003)Jumps and Information Flow in Financial Markets (2011)Asset pricing and the bid-ask spread (1986)Investor Sentiment and the Cross‐Section of Stock Returns (2006)
this work references cited by second hop

References

  • 1979The effect of personal taxes and dividends on capital asset prices1,255 cited
  • 1974The effects of dividend yield and dividend policy on common stock prices and returns1,002 cited
  • 1970Marginal Stockholder Tax Rates and the Clientele Effect892 cited
  • 1978Dividends and taxes760 cited
  • 1982The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect440 cited
  • 1984On interpreting security returns during the ex-dividend period298 cited
  • 1991Ex‐Dividend Day Stock Price Behavior: The Case of the 1986 Tax Reform Act*214 cited
  • 1987Dividends, taxes, and common stock prices197 cited
  • 1978SOME DIRECT EVIDENCE ON THE DIVIDEND CLIENTELE PHENOMENON155 cited
  • 1983Tax Reform and Ex-Dividend Day Behavior150 cited
  • 1955STOCK PRICE BEHAVIOR ON EX‐DIVIDEND DATES126 cited
  • 1984The Ex-Dividend Day Behavior of Stock Prices; A Re-Examination of the Clientele Effect: A Comment78 cited
  • 1991The Impact of the 1986 Tax Reform Act on Ex-Dividend Day Returns62 cited

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