This paper uncovers an increasing proportion of quoted UK companies omitting cash dividends. Using a large panel of quoted UK companies, we estimate models for the incidence of dividend omissions and cuts as functions of financial characteristics including cash flow, leverage, investment opportunities, investment and company size. These variables account for most of the increase in omission sin...

Issue: Vol 163, Issue 4204 [2] PETE MILLER considers the corporate tax proposals in the 2009 Budget KEY POINTS Background to the latest corporate tax proposals. Fundamental changes to the taxation of dividends received by UK companies. Loan relationship anomalies corrected. Changes relating to non-cumulative fixed rate preference shares. New compliance provision...

Companies incur significant costs from the financial distress. Predicting financial distress will have an important role in preventing bankruptcy. The aim of the present study is to predict the financial distress costs using the Leland and Toft models, during 1996 and 1998. This study examines data relating to 49 companies listed in the Tehran stock exchange collected over ten years from 2005 t...

The present study aimed at investigating the effect of debt and free cash flows on tax avoidance by emphasizing the role of institutional ownership in companies listed on the Tehran Stock Exchange. The statistical population of the study includes all companies listed on the Tehran Stock Exchange from 2013 to 2019. The statistical data for testing hypotheses based on the databases of Tehran Stoc...

In this paper the performance of a sample of German companies is measured by comparing the initially invested capital adjusted for cost of capital, dividends paid, share repurchases and equity raised with the market value at the end of the holding period. All possible holding periods between 1987 and 2000 are covered. The sample is subdivided into companies listed in the DAX-, MDAXand SMAX-inde...

In this paper the performance of a sample of German companies is measured by comparing the initially invested capital adjusted for cost of capital, dividends paid, share repurchases and equity raised with the market value at the end of the holding period. All possible holding periods between 1987 and 2000 are covered. The sample is subdivided into companies listed in the DAX-, MDAXand SMAX-inde...

During the past two years similar petroleum tax reforms have been proposed in Norway and Denmark. Both were based on results on neutral taxation derived by Boadway and Bruce (1984) and Fane (1987). Main features of the proposals are presented, and important problems of implementation are highlighted. Topics for further research are pointed out. While the risk characteristics of tax deductions c...

In recent years Tanzania has seen a rapid growth of its gold mining sector, the trend which has made the country the third largest gold producer in Africa. This growth is attributed much to the favorable investment climate created by the government for Multinational mining companies through the provision of various tax incentives and the ongoing discovery of new mining locations. Although tax i...