Ex-Dividend Day Returns When Dividend and Capital Gains are Taxed at the Same Rate
نویسندگان
چکیده
منابع مشابه
Ex-Dividend Day Returns when Dividend and Capital Gains are Taxed at the Same Rate
Due to the overwhelming international evidence that stock prices drop by less than the dividend paid on ex-dividend days, the ex-dividend day anomaly is considered a stylized fact. Two main approaches have emerged to explain this empirical regularity: the tax-clientele hypothesis and the microstructure of financial markets. Although the most widely accepted explanation for this fact relies on t...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1911078