Taxation, Dividend Payments and Ex-Day Price-Changes

20 Pages Posted: 26 Jun 2015

See all articles by Sven-Olov Daunfeldt

Sven-Olov Daunfeldt

Umeå University - Department of Economics

Carina Selander

Umeå University

Magnus Wikström

Umeå University

Date Written: June 25, 2015

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

JEL Classification: G12, G35

Suggested Citation

Daunfeldt, Sven-Olov and Selander, Carina and Wikström, Magnus, Taxation, Dividend Payments and Ex-Day Price-Changes (June 25, 2015). Multinational Finance Journal, Vol. 13, No. 1/2, p. 135-154, 2009, Available at SSRN: https://ssrn.com/abstract=2623035

Sven-Olov Daunfeldt (Contact Author)

Umeå University - Department of Economics ( email )

Umeå University
Umea, SE - 90187
Sweden
+46-90-786 99 92 (Phone)
+46-90-772 302 (Fax)

Carina Selander

Umeå University ( email )

Samhallsvetarhuset, Plan 2
Umea University
Umeå, SE 901 87
Sweden

Magnus Wikström

Umeå University ( email )

Samhallsvetarhuset, Plan 2
Umea University
SE 901 87

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
88
Abstract Views
1,087
Rank
549,206
PlumX Metrics