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Dividend taxation and the cost of new share issues
Lindhe, Tobias; Södersten, Jan - 2014
This paper examines how the effects of dividend taxation on the cost of new equity funds depend on whether or not … shareholders can recover their original equity injections without being subject to the dividend tax. We point out the alternative … that the shareholders cannot recover their original equity injections without being subject to the dividend tax …
Persistent link: https://www.econbiz.de/10010412740
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Cost of equity and its attributes for banks in India
Venkateshwarlu, Masuna; Gajula, Santhosh - In: Bank parikrama : a journal of banking & finance : … 43 (2018) 1/4, pp. 61-84
Persistent link: https://www.econbiz.de/10012023855
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Shifts in ownership composition and changes in the implied cost of equity capital for dividend and non-dividend stocks following JGTRRA03
Stinson, Shane R.; Ricketts, Robert C. - In: The journal of the American Taxation Association : a … 38 (2016) 1, pp. 103-124
Persistent link: https://www.econbiz.de/10011625873
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Dividend change announcements, ROE, and the cost of equity capital
Dempsey, Stephen J.; Sheng, Hainan - In: International review of financial analysis 86 (2023), pp. 1-17
Persistent link: https://www.econbiz.de/10014248421
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Taxes and Ex-Dividend Day Returns : Evidence from REITs
Li, Oliver Zhen - 2009
taxes on stock prices around ex-dividend days while avoiding the non-tax confounds and inter-temporal tests that have … distributions, we provide evidence that abnormal returns and trading volume around ex-dividend days are driven by the component of … the distributions that is most tax-penalized. Our results support a tax-based explanation for ex-dividend day pricing and …
Persistent link: https://www.econbiz.de/10013156623
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OECD Tax Treaties : Who Beneficially Owns Dividends in a Total Return Swap?
Shapiro, Dashiell - 2010
This article explores how local taxing authorities might apply the beneficial ownership concept in an OECD-based tax treaty to dividends paid on equity that is referenced in a cross-border total return equity swap. The article examines the OECD Commentary, relevant case law, recent guidelines...
Persistent link: https://www.econbiz.de/10013150797
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The cost of equity capital in stock portfolios listed on the warsaw stock exchange using the classic CAPM
Urba´nski, Stanislaw - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 2, pp. 48-62
This work is an attempt to estimate the cost of equity capital characteristic among portfolios of companies listed on the Warsaw Stock Exchange in the years 1995-2017. To this end, the classic CAPM is used to estimate the cost of risk. Model tests are based on 252 monthly returns. In order to...
Persistent link: https://www.econbiz.de/10012104396
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Impact of earnings smoothness on stock prices, stock returns and future earnings changes : the Polish experience
Welc, Jacek - In: European financial and accounting journal : EFAJ 9 (2014) 3, pp. 67-94
Capital markets appreciate stability. It means that companies reporting smooth earnings patterns tend to be priced relatively high. However, the empirical issue is whether such valuation premiums for earnings smoothness are justified. We examine the relationships between past five-year earnings...
Persistent link: https://www.econbiz.de/10011460570
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The consumption-oriented capital asset pricing model in the Nigerian Stock Exchange
Adegboye, Abidemi C. - In: CBN journal of applied statistics 8 (2017) 2, pp. 117-142
decisions well, both Treasury Bill rates and dividend yield performed well in predicting consumption behaviour. For the … entire market. Betas for Treasury bill rates and dividend yields however suggest that the assets form strong basis for both …
Persistent link: https://www.econbiz.de/10011843526
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Profit persistence and stock returns
Gschwandtner, Adelina; Hauser, Michael A. - 2013
This paper attempts to assemble evidence for the relationship between the product and the financial market. Drawing back on work in industrial organization, we analyze the relationship between profit persistence and expected stock returns. We show that long-run profit persistence together with...
Persistent link: https://www.econbiz.de/10010210263