Taxation, Dividend Payments and Ex-Day Price-Changes

Sven-Olov Daunfeldt, Carina Selander and Magnus Wikstrom
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Carina Selander: Umea University, Sweden
Magnus Wikstrom: Umea University, Sweden

Multinational Finance Journal, 2009, vol. 13, issue 1-2, 135-154

Abstract: The purpose of the paper is to study the effect of taxation on dividend payments and ex-dividend price-changes in Sweden during 1991-1995. Tax changes in Sweden during the 1990s were implemented in such a way that they provide an opportunity to include direct measures of the tax-treatment of dividends and capital gains in the empirical analysis, in contrast to previous studies. The results indicate that tax-reforms can have large effects on dividend payments, while the effects on ex-dividend price-changes are less conclusive.

Keywords: censoring; dividend; ex-dividend; taxation. (search for similar items in EconPapers)
JEL-codes: G12 G35 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Taxation, Dividend Payments and Ex-Day Price Changes (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:mfj:journl:v:13:y:2009:i:1-2:p:135-154

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