An Empirical Study on Substitution Effect of Dividend and Stock Repurchase

碩士 === 國立中央大學 === 財務金融研究所 === 100 === In this paper, we investigate the substitution hypothesis between cash dividends and stock repurchase after 1990, and also discuss the change of their relation by the 2003 dividend tax cut. Different from Grullon and Michaely(2002), our study reports that the su...

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Bibliographic Details
Main Authors: Ching-han Huang, 黃敬涵
Other Authors: Cheng-Yi Shiu
Format: Others
Published: 2012
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