Effects of Tax Reform on Drop-Off Ratios and on Ex-Dividend and Ex-Right Prices

The paper analyzes empirically the impact of switching to Taiwan's new Integrated Tax System in 1998 on the valuation of dividends. The Elton & Gruber [Rev. Econ. Stat. 1970] model is used to analyze the ratio of the ex-day stock price drop-off to the cash dividend per share. After adjusting for the tax changes and changes in the tick limits, significant increases were found for the drop-off ratios for taxable cash dividends and taxable stock dividends, but no changes were found for tax-exempt dividends

MoreLess

Year of publication:	2015
Authors:	Francis, Jack Clark
Other Persons:	Wu, Tsing Zai (contributor) ; Kuo, Nan-Ting (contributor)
Publisher:	[2015]: [S.l.] : SSRN
Subject:	Steuerreform \| Tax reform \| Dividende \| Dividend \| Steuerwirkung \| Tax effects \| Theorie \| Theory \| Börsenkurs \| Share price \| Kapitalertragsteuer \| Capital income tax

Extent:	1 Online-Ressource (20 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Review of Quantitative Finance and Accounting, Vol. 39, No. 2, 2012 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 4, 2012 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013024904