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Taxes and dividends: The UK evidence
16 references·16 citing·36 second hopsampled
Taxes and dividends: The UK evidence (1996)Taxes and dividends: The UK evidenceThe theory and practice of econometrics (1986)The theory and practice of ec…Tax-induced trading around ex-dividend days (1986)Tax-induced trading around ex…Recent Advances in Corporate Finance. (1986)Recent Advances in Corporate …Using daily stock returns (1985)Using daily stock returnsThe Taxation of Income from Capital (1984)The Taxation of Income from C…On interpreting security returns during the ex-dividend period (1984)On interpreting security retu…New Evidence That Taxes Affect the Valuation of Dividends (1984)New Evidence That Taxes Affec…Transaction costs and the small firm effect (1983)Transaction costs and the sma…Transaction costs and the small firm effect (1983)Transaction costs and the sma…The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect (1982)The Ex-Dividend Day Behavior …Public Policy and the Corporation (1980)Public Policy and the Corpora…Risk measurement when shares are subject to infrequent trading (1979)Risk measurement when shares …Public Policy and the Corporation. (1978)Public Policy and the Corpora…Dividends and taxes (1978)Dividends and taxesMarginal Stockholder Tax Rates and the Clientele Effect (1970)Marginal Stockholder Tax Rate…DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)DISTRIBUTION OF INCOMES OF CO…Nexus between Environmental Tax, Economic Growth, Energy Consumption, and Carbon Dioxide Emissions: Evidence from China, Finland, and Malaysia Based on a Panel-ARDL Approach (2019)Nexus between Environmental T…Determinants of Dividend Payout Decisions: A Dynamic Panel Data Analysis of Turkish Stock Market (2018)Determinants of Dividend Payo…The impact of dividend imputation on corporate tax avoidance: The case of shareholder value (2017)The impact of dividend imputa…The market valuation of share repurchases in Europe (2014)The market valuation of share…DIVIDEND POLICY: BALANCING SHAREHOLDERS' AND CREDITORS' INTERESTS (2013)DIVIDEND POLICY: BALANCING SH…Investor protection, taxation, and dividends (2012)Investor protection, taxation…The impact of government ownership on dividend policy in China (2011)The impact of government owne…Patterns in payout policy and payout channel choice (2010)Patterns in payout policy and…Share reacquisitions, surplus cash, and agency problems (2007)Share reacquisitions, surplus…Dividend behaviour of Indian companies under monetary policy restrictions (2007)Dividend behaviour of Indian …A general unconstrained model for transfer pricing in multinational supply chains (2006)A general unconstrained model…Control Structures and Payout Policy (2005)Control Structures and Payout…CORPORATE DIVIDEND POLICY AND BEHAVIOUR: THE MALAYSIAN EVIDENCE (2001)CORPORATE DIVIDEND POLICY AND…Reduction of Constraints on Arbitrage Trading and Market Efficiency: An Examination of Ex‐Day Returns in Hong Kong after Introduction of Electronic Settlement (2000)Reduction of Constraints on A…The Determinants of the Leasing Decision of Small and Large Companies (1998)The Determinants of the Leasi…Ex‐Day Behavior: Tax or Short‐Term Trading Effects (1995)Ex‐Day Behavior: Tax or Short…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)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)The Effect of Market Segmentation and Illiquidity on Asset Prices: Evidence from Exchange Listings (1994)Transaction Costs and Asset Prices: A Dynamic Equilibrium model (1998)Bank involvement with SMEs: Beyond relationship lending (2010)An Empirical Evaluation of Accounting Income Numbers (1968)The Cross-Section of Expected Stock Returns (1992)R2 around the world: New theory and new tests☆ (2005)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)The Effects of Beta, Bid-Ask Spread, Residual Risk, and Size on Stock Returns (1989)Abnormal returns to a fundamental analysis strategy. (1998)Arbitrage risk and the book-to-market anomaly (2003)Dividend Policy, Growth, and the Valuation of Shares (1961)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)The effect of personal taxes and dividends on capital asset prices (1979)A Theory of Dividends Based on Tax Clienteles (2000)Exchange Rates and Fundamentals (2005)Time Series Analysis: Forecasting and Control (1977)Time Series Analysis: Forecasting and Control (1977)ARCH modeling in finance (1992)Introductory Econometrics for Finance (2008)Structural Dependence of the State on Capital (1988)Political responses to interdependence: what's “left” for the left? (1991)How effective are fiscal incentives for R&D? A review of the evidence (2000)Asset pricing and the bid-ask spread (1986)The Effect of National Culture on the Choice of Entry Mode (1988)Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data (1998)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Behavior of Stock-Market Prices (1965)The Capital Structure Puzzle (1984)
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References

  • 1985Using daily stock returns6,497 cited
  • 1986The theory and practice of econometrics4,342 cited
  • 1956DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES3,426 cited
  • 1979Risk measurement when shares are subject to infrequent trading2,767 cited
  • 1970Marginal Stockholder Tax Rates and the Clientele Effect892 cited
  • 1978Dividends and taxes760 cited
  • 1984The Taxation of Income from Capital573 cited
  • 1983Transaction costs and the small firm effect529 cited
  • 1982The Ex-Dividend Day Behavior of Stock Prices: A Re-Examination of the Clientele Effect440 cited
  • 1983Transaction costs and the small firm effect431 cited
  • 1986Recent Advances in Corporate Finance.393 cited
  • 1980Public Policy and the Corporation371 cited
  • 1986Tax-induced trading around ex-dividend days331 cited
  • 1978Public Policy and the Corporation.298 cited
  • 1984On interpreting security returns during the ex-dividend period296 cited
  • 1984New Evidence That Taxes Affect the Valuation of Dividends287 cited

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Cited by

  • 2007Share reacquisitions, surplus cash, and agency problems104 cited
  • 2010Patterns in payout policy and payout channel choice103 cited
  • 2012Investor protection, taxation, and dividends101 cited
  • 1995Ex‐Day Behavior: Tax or Short‐Term Trading Effects99 cited
  • 2014The market valuation of share repurchases in Europe94 cited
  • 2017The impact of dividend imputation on corporate tax avoidance: The case of shareholder value84 cited
  • 1998The Determinants of the Leasing Decision of Small and Large Companies82 cited
  • 2019Nexus between Environmental Tax, Economic Growth, Energy Consumption, and Carbon Dioxide Emissions: Evidence from China, Finland, and Malaysia Based on a Panel-ARDL Approach81 cited
  • 2011The impact of government ownership on dividend policy in China75 cited
  • 2013DIVIDEND POLICY: BALANCING SHAREHOLDERS' AND CREDITORS' INTERESTS73 cited
  • 2001CORPORATE DIVIDEND POLICY AND BEHAVIOUR: THE MALAYSIAN EVIDENCE65 cited
  • 2000Reduction of Constraints on Arbitrage Trading and Market Efficiency: An Examination of Ex‐Day Returns in Hong Kong after Introduction of Electronic Settlement57 cited
  • 2006A general unconstrained model for transfer pricing in multinational supply chains52 cited
  • 2007Dividend behaviour of Indian companies under monetary policy restrictions51 cited
  • 2018Determinants of Dividend Payout Decisions: A Dynamic Panel Data Analysis of Turkish Stock Market46 cited
  • 2005Control Structures and Payout Policy45 cited