What do firms do when dividend tax rates change? An examination of alternative payout responses
This paper investigates whether investor-level taxes affect corporate payout policy decisions. We predict and find a surge of special dividends in the final months of 2010 and 2012, immediately before individual-level dividend tax rates were expected to increase. We also find evidence that immediate...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Elsevier BV,
2018-12-13T20:57:00Z.
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| Subjects: | |
| Online Access: | Get fulltext |