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dc.contributor.authorLai, Tat-kei
dc.contributor.authorNg, Travis
dc.contributor.authorTsang, Kwok Ping
dc.date.accessioned2018-10-22T17:20:04Z
dc.date.available2018-10-22T17:20:04Z
dc.date.issued2016-07-27
dc.identifier.urihttp://hdl.handle.net/10919/85450
dc.description.abstractDo non-U.S. firms respond to the U.S. dividend income tax? To explore this question, we examine the 2003 dividend tax cut which only applies to certain non-U.S. firms depending on both tax treaties and corresponding foreign withholding taxes. We find that 1) foreign firms from which U.S. investors enjoy the full tax cut become more likely to initiate or increase their dividends; 2) such changes are stronger across those foreign firms that are bigger, index-included and with higher credit rating; and 3) these firms also respond consistently to the expiry of the tax cut.
dc.format.extent35 pages
dc.format.mimetypeapplication/pdf
dc.language.isoen_US
dc.publisherVirginia Tech
dc.relation.ispartofWorking Paper No. 1602
dc.subjectDividend payouts
dc.subjecttax treaty
dc.subjectcorporate governance
dc.subjectJEL:G35
dc.subjectJEL:H24
dc.subjectJEL:F36
dc.titleGlobal Effects of U.S. Dividend Income Tax
dc.typeWorking paper
dc.identifier.urlhttp://www.globalforum.vt.edu/working-papers.html
dc.type.dcmitypeText


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