corporate dividend policy. Consistent with investors having a greater preference for the distribution of dividends, we find that … of the dividend payments they make. Subsequent analysis reveals that effective tax rate and firm size explain cross …-sectional variation in dividend policy responses to the tax reform, with large firms and firms with high effective tax rates more likely …

analysis reveals that - in line with current literature - the firm-specific tax preferences indeed affect dividend payments …

to a dividend tax is above the old view double-tax one, (iii) the start-up investment is not affected by undervaluation …, but the discouragement engendered by dividend taxation is compensated by realization-based capital gains tax, (iv) with … suggests, (v) without undervaluation, the dividend tax boosts expansion investment …