Tax-induced trading around ex-dividend days

This paper investigates trading volume around ex-dividend days. For taxable distributions (cash dividends), it is found that trading volume increases significantly around the ex-dividend day. This increase is more pronounced for high yield, actively traded stocks and after brokerage commissions beca...

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Veröffentlicht in:Journal of financial economics 1986-07, Vol.16 (3), p.287-319
Hauptverfasser: Lakonishok, Josef, Vermaelen, Theo
Format: Artikel
Sprache:eng
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