(using short-term a discrete event). After a firm has declared a dividend (i.e., after the news release), but in the few days … that precede the payment date, an investor in the traded equity owns a claim to the dividend cash plus the remaining firm … equity within the corporate shell. After the payment date, the shell contains only the dividend-sans-cash firm equity. The …

generates stock volatility that is higher than long-horizon dividend volatility, even with constant market prices of risk …Many leading asset pricing models predict that the term structures of expected returns and volatilities on dividend … these models replace their exogenously specified dividend dynamics with processes that are derived endogenously from capital …

. This way, one bank's dividend payout policy affects the equity value and risk of default of other banks. When such negative …

analysis of dividend behavior with respect to tax parameters and to the conditions determining the riskiness of the securities …

In 2004 Norwegian authorities announced a reform introducing dividend taxation for personal (but not corporate) owners … that dividend payments responded very strongly to the anticipated reform, but also that much of the response was … aggressive dividend maximization policy in anticipation of the reform exhibit lower profits and economic activity in its …

We empirically decompose the S&P 500's dividend yield into (1) a rational forecast of long-run real dividend growth, (2 …) the subjectively expected risk premium, and (3) residual mispricing attributed to the market's forecast of dividend growth …

This paper examines the empirical relation between stock returns and dividend yields. Several equilibrium pricing …

The aggregate dividend payout ratio forecasts aggregate excess returns on both stocks and corporate bonds in post …

. Financial constraint returns help explain returnsquot; following initial public offerings and dividend omissions. We find only …