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Do Investors Ignore Dividend Taxation? A Reexamination of the Citizens Utilities Case
15 references·12 citing·41 second hop
Do Investors Ignore Dividend Taxation? A Reexamination of the Citizens Utilities Case (1997)Do Investors Ignore Dividend Taxation? A …Trading Volume with Private Valuation: Evidence from The Ex-Dividend Day (1996)Trading Volume with Private V…Market microstructure and asset pricing: On the compensation for illiquidity in stock returns (1996)Market microstructure and ass…The Effect of Tax Heterogeneity on Prices and Volume around the Ex-Dividend Day: Evidence from the Milan Stock Exchange (1995)The Effect of Tax Heterogenei…Investors' Heterogeneity, Prices, and Volume around the Ex-Dividend Day (1995)Investors' Heterogeneity, Pri…Ex‐Dividend Day Stock Price Behavior: The Case of the 1986 Tax Reform Act* (1991)Ex‐Dividend Day Stock Price B…Tax Policy and Corporate Saving (1987)Tax Policy and Corporate Savi…The market valuation of cash dividends (1986)The market valuation of cash …Asset pricing and the bid-ask spread (1986)Asset pricing and the bid-ask…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Dividend Policy under Asymmetric Information (1985)Dividend Policy under Asymmet…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …Explaining investor preference for cash dividends (1984)Explaining investor preferenc…Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy (1979)Imperfect Information, Divide…The market valuation of cash dividends (1978)The market valuation of cash …An Economic Theory of Self-Control (1977)An Economic Theory of Self-Co…What If Dividends Were Tax-Exempt? Evidence from a Natural Experiment (2021)What If Dividends Were Tax-Ex…Dividends and taxes: The moderating role of agency conflicts (2019)Dividends and taxes: The mode…Preference for Dividends and Return Comovement (2018)Preference for Dividends and …When cutting dividends is not bad news: The case of optional stock dividends (2016)When cutting dividends is not…The Catering Theory of Dividends (2009)The Catering Theory of Divide…Capital Gains Taxes, Pricing Spreads, and Arbitrage: Evidence from Cross-Listed Firms in the U.S. (2009)Capital Gains Taxes, Pricing …Payout Policy**Avner Kalay is from the David Eccles School of Business, The University of Utah and Tel Aviv University and Mike Lemmon is from the David Eccles School of Business, The University of Utah. The authors acknowledge helpful comments from Espen Eckbo (the editor). (2008)Payout Policy**Avner Kalay is…Dividend Policy in Switzerland (2006)Dividend Policy in SwitzerlandDividend Policy and Corporate Governance (2004)Dividend Policy and Corporate…Payout Policy (2002)Payout PolicyContribution of Dividend Policy Stability to the Measurement of Dividend Announcement and Ex-Dividend Effects on the French Market (2000)Contribution of Dividend Poli…Taxation research in an accounting context: future prospects and interdisciplinary perspectives (1999)Taxation research in an accou…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)The investment opportunity set and corporate financing, dividend, and compensation policies (1992)Alternative Theories of Distribution (1955)Taxation and Economic Performance (1997)The rate of return to corporate capital and factor shares: new estimates using revised national income accounts and capital stock data (1998)Taxation and Saving (1999)Risk, Return, and Equilibrium: Empirical Tests (1973)The relationship between return and market value of common stocks (1981)The theory and practice of econometrics (1986)Illiquidity and stock returns: cross-section and time-series effects (2002)Liquidity Risk and Expected Stock Returns (2003)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Prospect Theory: An Analysis of Decision under Risk (1979)The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence (1985)Prospect theory: An analysis of decision under risk (1988)Mental accounting matters (1999)Investor Psychology and Asset Pricing (2001)Continuous Auctions and Insider Trading (1985)Common risk factors in the returns on stocks and bonds (1993)Liquidity, Information, and Infrequently Traded Stocks (1996)Liquidity and stock returns: An alternative test (1998)Commonality in liquidity (2000)Job Market Signaling (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Efficient Capital Markets: II (1991)Agency Problems and the Theory of the Firm (1980)Agency costs of free cash flow, corporate finance, and takeovers (1996)A Survey of Corporate Governance (1997)The effect of personal taxes and dividends on capital asset prices (1979)Using daily stock returns (1985)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)Myopia and Inconsistency in Dynamic Utility Maximization (1973)Handbook of Emotions (1993)Implications of rational inattention (2003)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
this work references cited by second hop

References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 1985Dividend Policy under Asymmetric Information3,459 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1979Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy2,809 cited
  • 1977An Economic Theory of Self-Control1,575 cited
  • 1996Market microstructure and asset pricing: On the compensation for illiquidity in stock returns1,555 cited
  • 1984Explaining investor preference for cash dividends687 cited
  • 1991Ex‐Dividend Day Stock Price Behavior: The Case of the 1986 Tax Reform Act*214 cited
  • 1987Tax Policy and Corporate Saving207 cited
  • 1996Trading Volume with Private Valuation: Evidence from The Ex-Dividend Day183 cited
  • 1995Investors' Heterogeneity, Prices, and Volume around the Ex-Dividend Day173 cited
  • 1978The market valuation of cash dividends152 cited
  • 1995The Effect of Tax Heterogeneity on Prices and Volume around the Ex-Dividend Day: Evidence from the Milan Stock Exchange94 cited
  • 1986The market valuation of cash dividends58 cited

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Cited by

  • 2018Preference for Dividends and Return Comovement53 cited
  • 2009Capital Gains Taxes, Pricing Spreads, and Arbitrage: Evidence from Cross-Listed Firms in the U.S.44 cited
  • 2019Dividends and taxes: The moderating role of agency conflicts43 cited
  • 2006Dividend Policy in Switzerland33 cited
  • 1999Taxation research in an accounting context: future prospects and interdisciplinary perspectives26 cited
  • 2002Payout Policy26 cited
  • 2004Dividend Policy and Corporate Governance24 cited
  • 2021What If Dividends Were Tax-Exempt? Evidence from a Natural Experiment22 cited
  • 2009The Catering Theory of Dividends22 cited
  • 2016When cutting dividends is not bad news: The case of optional stock dividends19 cited
  • 2008Payout Policy**Avner Kalay is from the David Eccles School of Business, The University of Utah and Tel Aviv University and Mike Lemmon is from the David Eccles School of Business, The University of Utah. The authors acknowledge helpful comments from Espen Eckbo (the editor).16 cited
  • 2000Contribution of Dividend Policy Stability to the Measurement of Dividend Announcement and Ex-Dividend Effects on the French Market14 cited