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Taxation, Dividend Payments and Ex-Day Price Changes

PublicationArticle (with peer review)
Aktiebolag, Företagandets villkor, Skattereform, Sven-Olov Daunfeldt, Vinst

Abstract

The purpose of the paper is to study the effects of taxation on dividend payments and ex-dividend price changes in Sweden during 1991-1995. Under this period, dividends and capital gains were taxed at a áat rate. Tax changes in Sweden during the 1990s thus 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 have large effects on dividend payments, while the effects on ex-dividend price changes are less conclusive.

Daunfeldt, S-O., Selander, C. & Wikström, M. (2009). “Taxation, Dividend Payments and Ex-Day Price Changes.”Multinational Finance Journal, 13(1/2): 135-154.

Details

Author

Daunfeldt, S-O., Selander, C. & Wikström, M.

Publication year

2009

Published in

Multinational Finance Journal

Related

Sven-Olov Daunfeldt
Associate Researcher

+46702957284

sven-olov.daunfeldt@huiresearch.se

Similar content

Do Targeted R&D Grants toward SMEs Increase Employment and Demand for High Human Capital Workers?
Book chapterPublication
Daunfeldt, S. O., Halvarsson, D., Tingvall, P. G., & McKelvie, A.
Publication year

2022

Published in

Springer.

Abstract

Most previous studies on the employment effects of government R&D grants targeting SMEs are characterized by data-, measurement-, and selection problems, making it difficult to construct a relevant control group of firms that did not receive an R&D grant. We investigate the effects on employment and firm-level demand for high human capital workers of two Swedish programs targeted toward growth-oriented SMEs using Coarsened Exact Matching. Our most striking result is the absence of any statistically significant effects. We find no robust evidence that the targeted R&D grant programs had any positive and statistically significant effects on the number of employees recruited into these SMEs, or that the grants are associated with an increase in the demand for high human capital workers. The lack of statistically significant findings is troublesome considering that government support programs require a positive impact to cover the administrative costs associated with these programs.

The book can be downloaded here for free.

Working Paper no. 328 Wholesale firms: A catalyst for Swedish exports?
Working paperPublication
Daunfeldt, S-O., Engberg, E., Halvarsson, D., Kokko, A. & Tingvall, P.
Download
Publication year

2019

Published in

Ratio Working Paper

Abstract

This paper examines the role of wholesale firms as facilitators of exports for small and medium-sized Swedish businesses. Our findings suggest that wholesale firms do facilitate access to difficult markets located outside Europe. For exports of a particular good to a given market, we observe a positive correlation between the export volumes of wholesale and manufacturing firms. Finally, we present evidence that supports a prediction from recent trade models with differentiated firms, namely that wholesale firms can facilitate exports for firms that are not themselves capable of direct exports.

The openness of open innovation in ecosystems
Article (with peer review)Publication
Öberg, C., & Alexander, A.
Publication year

2019

Published in

Journal of Innovation & Knowledge

Abstract

Open innovation has rendered increased interest both in practice and research, and has expanded from dyadic transfers of ideas, to ecosystem levels. Knowledge is at the heart of open innovation, and this paper describes and discusses knowledge-transfer linkages for open innovation. It does so based on a literature review. The paper links together open innovation research with general management research to categorise and discuss linkages among parties in terms of their openness and how they relate to knowledge management. Conclusions indicate that openness needs to be considered in different dimensions that also links to different knowledge management outcomes. The paper’s contribution consists of how it connects open innovation research to the general management literature, and how it builds a practical understanding of how linkages between firms can be categorised to aid firms to consider which mechanisms they may choose and why.

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