Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 684: Taxation, Dividend Payments and Ex-Day Price Changes

Sven-Olov Daunfeldt (), Carina Selander () and Magnus Wikström ()
Additional contact information
Sven-Olov Daunfeldt: Högskolan i Gävle, Postal: S 801 76 GÄVLE, Sweden
Carina Selander: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden
Magnus Wikström: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

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 flat 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.

Keywords: capital gain; censoring; dividend; flat tax; tax reform

JEL-codes: G12; G35; H24

28 pages, June 2, 2006

Full text files 

DownloadAsset.action...Id=3&assetKey=ues684 PDF-file

Download statistics

Questions (including download problems) about the papers in this series should be directed to David Skog ()
Report other problems with accessing this service to Sune Karlsson ().

RePEc:hhs:umnees:0684This page generated on 2024-09-13 22:17:26.