University of Michigan. Special thanks are due L. DeAngelo, J. Long, and R. Stulz for particularly valuable discussions. Helpful comments were also received from A. Auerbach, W. Bailey, J. Brickley, L. Dann, L. Harris, M. Jensen, J. Karpoff, H. Kim, M. Miller, P. O'Brien, J. Poterba, G. Rao, A. Ravid, E. Rice, J. Ritter, A. Shleifer, J. Thomas, R. Walkling, J. Warner, M. Weisbach, J. F. Weston, J. Zimmerman, two anonymous referees, and from finance workshop participants at Michigan, Ohio State, USC, and Wisconsin. Thanks are also due R. Masulis for comments on this paper and because our earlier joint work has materially influenced my thoughts here. Financial support was provided by the J. Ira Harris Center for the Study of Corporate Finance (University of Michigan) and the Managerial Economics Research Center (University of Rochester).
Payout Policy and Tax Deferral
Version of Record online: 30 APR 2012
© 1991 the American Finance Association
The Journal of Finance
Volume 46, Issue 1, pages 357–368, March 1991
How to Cite
DeANGELO, H. (1991), Payout Policy and Tax Deferral. The Journal of Finance, 46: 357–368. doi: 10.1111/j.1540-6261.1991.tb03754.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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