Ticks and Tax: The Effects of Price Discreteness and Taxation on Ex-Dividend Day Returns

C. Bryan Cloyd, Oliver Zhen Li,Connie D. Weaver

Journal of The American Taxation Association（2006）

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摘要

We investigate changes in the relation between dividend yield and exdividend day stock returns across four regimes, defined by two reductions in share price discreteness and two changes in differen...

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关键词

Dividend Policy,Stock Returns

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