Dividends, Share Repurchases, and Tax Clienteles: Evidence from the 2003 Reductions in Shareholder Taxes
---- Acknowledgements ----
The authors have benefited greatly from comments from Dan Dhaliwal and two anonymous referees, 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 authors and do not necessarily reflect the views of the National Bureau of Economic Research.