https://scholars.lib.ntu.edu.tw/handle/123456789/414567
標題: | Who wants to trade around ex-dividend days? | 作者: | SHING-YANG HU Tseng, Yun Ian |
公開日期: | 1-十二月-2006 | 卷: | 35 | 期: | 4 | 起(迄)頁: | 95 | 來源出版物: | Financial Management | 摘要: | We examine order flows around ex-dividend dates on the Taiwan Stock Exchange. By using Taiwan's data, we can examine the heterogeneity of investors' behavior around ex-dividend dates to test different hypotheses. We find that for both taxable and nontaxable samples, small investors sell before the ex date and buy from the ex date, suggesting that small investors prefer low-priced stocks. We find weaker evidence that tax-disadvantaged foreign and large domestic investors avoid participating in taxable dividends. We find strong evidence that tax-neutral institutions play the role of short-term arbitrageurs around ex-dividend dates. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/414567 | ISSN: | 00463892 | DOI: | https://api.elsevier.com/content/abstract/scopus_id/33846151014 10.1111/j.1755-053X.2006.tb00161.x |
顯示於: | 財務金融學系 |
在 IR 系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。