Did Firms Substitute Dividends for Share Repurchases after the 2003 Reductions in Shareholder Tax Rates?
NBER Working Paper No. 13601
---- Acknowledgements -----
The authors have benefited greatly from discussions with Jeff Brown, Raj Chetty, Emmanuel Saez, and Scott Weisbenner and research assistance from Kevin Markle. We are responsible for all remaining errors. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.