NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Institutional Tax Clienteles and Payout Policy

Mihir A. Desai, Li Jin

NBER Working Paper No. 13283
Issued in July 2007

---- Acknowledgements -----

The authors thank seminar participants at University of California at San Diego, Harvard University, Hong Kong Chinese University and New York University for helpful comments on an earlier draft, and the Division of Research at Harvard Business School for financial support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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