Dividend Tax Capitalization: Clarifications and Responses to Recent Challenges

Deen Kemsley ()
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Deen Kemsley: Columbia Business School

Yale School of Management Working Papers from Yale School of Management

Abstract: Recent studies by Dhaliwal et al. (2001) and Hanlon, Myers, and Shevlin (2001) raise questions regarding the dividend tax capitalization results in several of my prior studies. In this paper, I clarify the basic concepts underlying dividend tax capitalization and I provide point-by-point responses to the key concerns raised. I demonstrate that there are simple, unambiguous answers to each of the expressed concerns. I also demonstrate that the new evidence provided by Dhaliwal et al. (2001) and Hanlon, Myers, and Shevlin (2001) actually provides addtional support for dividend tax capitalization.

JEL-codes: G12 G35 H25 (search for similar items in EconPapers)
Date: 2001-08-13
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:ysm216

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