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Dividends, taxes, and normative portfolio theory
16 references·3 citing·33 second hop
Dividends, taxes, and normative portfolio theory (1990)Dividends, taxes, and normative portfolio…Mean-Variance Versus Direct Utility Maximization (1984)Mean-Variance Versus Direct U…Explaining investor preference for cash dividends (1984)Explaining investor preferenc…The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect (1982)The Ex-Dividend Day Behavior …The Effects of Dividends on Common Stock Prices Tax Effects or Information Effects? (1982)The Effects of Dividends on C…Dividends and Taxes: Some Empirical Evidence (1982)Dividends and Taxes: Some Emp…Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends? (1980)Do Stock Prices Move Too Much…The effect of personal taxes and dividends on capital asset prices (1979)The effect of personal taxes …Dividends and taxes (1978)Dividends and taxesA critique of the asset pricing theory's tests Part I: On past and potential testability of the theory (1977)A critique of the asset prici…The Dividend Puzzle (1976)The Dividend PuzzleThe 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…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…A Simplified Model for Portfolio Analysis (1963)A Simplified Model for Portfo…Dividend Policy, Growth, and the Valuation of Shares (1961)Dividend Policy, Growth, and …PORTFOLIO SELECTION* (1952)PORTFOLIO SELECTION*Value at risk and conditional extreme value theory via markov regime switching models (2007)Value at risk and conditional…Volatility Spillover Effects in European Equity Markets (2005)Volatility Spillover Effects …Volatility and cross correlation across major stock markets (1998)Volatility and cross correlat…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Book Review: Time Series Analysis: Forecasting and Control (1977)Does the Stock Market Overreact? (1985)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Investor Sentiment and the Cross‐Section of Stock Returns (2006)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 Investment, Financing, and Valuation of the Corporation (1963)A Theory of Dividends Based on Tax Clienteles (2000)Exchange Rates and Fundamentals (2005)Portfolio Selection: Efficient Diversification of Investments (1959)THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)The Adjustment of Stock Prices to New Information (1969)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)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Behavior of Stock-Market Prices (1965)Determinants of corporate borrowing (1977)Asset pricing and the bid-ask spread (1986)Efficient Capital Markets: II (1991)Multifactor Explanations of Asset Pricing Anomalies (1996)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Common risk factors in the returns on stocks and bonds (1993)Noise (1986)Financial flexibility and the choice between dividends and stock repurchases (2000)A Catering Theory of Dividends (2004)Conditional value-at-risk for general loss distributions (2002)Optimal Versus Naive Diversification: How Inefficient is the 1/ N Portfolio Strategy? (2007)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)
this work references cited by second hop

References

  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*20,205 cited
  • 1952PORTFOLIO SELECTION*18,429 cited
  • 1961Dividend Policy, Growth, and the Valuation of Shares6,554 cited
  • 1980Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?4,020 cited
  • 1977A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory3,026 cited
  • 1963A Simplified Model for Portfolio Analysis2,740 cited
  • 1979The effect of personal taxes and dividends on capital asset prices1,255 cited
  • 1976The Dividend Puzzle1,235 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
  • 1984Explaining investor preference for cash dividends687 cited
  • 1982Dividends and Taxes: Some Empirical Evidence684 cited
  • 1984Mean-Variance Versus Direct Utility Maximization527 cited
  • 1982The Effects of Dividends on Common Stock Prices Tax Effects or Information Effects?447 cited

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1982
The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect
440 cited

Cited by

  • 2005Volatility Spillover Effects in European Equity Markets665 cited
  • 1998Volatility and cross correlation across major stock markets525 cited
  • 2007Value at risk and conditional extreme value theory via markov regime switching models17 cited