Bond, Stephen R; Chennells, Lucy; Devereux, Michael P - In: Economic Journal 106 (1996) 435, pp. 320-33
The authors use panel data for 1,218 U.K. industrial and commercial companies between 1970 and 1990 to investigate whether dividends are affected by taxes. Cross-section variation in the tax cost of paying dividends results from surplus advance corporation tax affecting some firms during this...