Some Direct Evidence on the Dividend Clientele Phenomenon
Wilbur G. Lewellen, Kenneth L. Stanley, Ronald C. Lease, Gary G. Schlarbaum
NBER Reprint No. 16
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Published: Lewellen, W. G., Stanley, K. L., Lease, R. C. and Schlarbaum, G. G. "Some Direct Evidence on the Divident Clientele Phenomenon." Journal of Finance, Vol. 33, No. 5, (December 1978), pp. 1385-1399.