Dividend Policy and Tax Structure
We show that a certain class of progressive tax structure induces an optimal dividend policy which is autogressive in nature. The theoritical model is consistent with empirically observed dividend policies.
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
1989
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/2243 https://doi.org/10.1016/0165-1765(89)90012-8 |
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| Institution: | Singapore Management University |
| Language: | English |