The Garman-Ohlson structural system

Article Abstract:

A study was conducted regarding the feasibility of the Garman-Ohlson structural system in understanding the evolution of the corporate earnings, dividends and book values in relation with the financial statement information and underlying equity value. The system assumed that a simultaneous equation links the said variables. However, the structural system's analytical properties lacked consistency with empirical results. Thus, it is suggested that further studies regarding structural systems be made to provide more insights.

Corporate Profits, Dividends, Profits, Eigenvalues

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Determinants of corporate dividend capture

Article Abstract:

A study on the determinants of corporate dividend capture in the US stock market revealed that ex-dividend returns is positively in accord with transaction costs, holding costs and financing costs, while ex-dividend day returns vary negatively with dividend yield. Researchers also found that dividend capture is more dominant in utility stocks than in other stocks. Moreover, the Tax Reform Act of 1986 has greatly decreased corporate dividend capture as this has effected a reduction of its profitability.

Security brokers and dealers, Securities Brokerage, Stock Brokerage, Stockbrokers, Stock-exchange, Stock exchanges

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Ex-dividend equity pricing under UK tax regimes

Article Abstract:

The ex-dividend day pricing in the UK is investigated. The equilibrium asset pricing theory used by researchers in past studies of ex-dividend pricing in the US is utilized in the study to assess theeffects of the tax-induced dividend clientele hypothesis and short-term tradinghypothesis on ex-dividend day pricing in the UK. Results indicate that the two major hypotheses on ex-dividend pricing are no longer relevant at present.

United Kingdom, Taxation, Equity (Law), Assets (Accounting)

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