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The Accounting Review (2022) 97 (3): 279–308.
Published: 01 May 2022
...Zachary Kaplan; Gerardo Pérez-Cavazos ABSTRACT We provide evidence that dividends signal sustainable earnings generated by assets-in-place for firms with weak investment opportunities. In the cross-section, both dividend levels and changes contain more earnings information among firms with weaker...
The Accounting Review (2017) 92 (4): 217–241.
Published: 01 July 2017
...Michelle L. Nessa ABSTRACT This paper examines whether and to what extent repatriation tax costs constrain U.S. multinational companies' (MNCs) distributions to shareholders. During the 1987–2004 sample period, I find that repatriation tax costs decrease U.S. MNCs' dividend payments...
The Accounting Review (2013) 88 (5): 1833–1856.
Published: 01 September 2013
...Jacob Thornock ABSTRACT: This study examines the effects of dividend taxation on the primary parties involved in a short sale: the lender of the stock and the short seller. For stock lenders, dividend taxation is associated with a decrease in the supply of shortable shares and an increase...
The Accounting Review (2013) 88 (3): 1007–1039.
Published: 01 May 2013
...Santhosh Ramalingegowda; Chuan-San Wang; Yong Yu ABSTRACT Miller and Modigliani's (1961 ) dividend irrelevance theorem predicts that in perfect capital markets dividend policy should not affect investment decisions. Yet in imperfect markets, external funding constraints that stem from information...