Dividends with no taxes : Evidence from Hong Kong

Research output: Journal Publications and ReviewsRGC 21 - Publication in refereed journalpeer-review

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Detail(s)

Original languageEnglish
Pages (from-to)345-348
Journal / PublicationApplied Economics Letters
Volume3
Issue number5
Publication statusPublished - May 1996

Abstract

Litzenberger and Ramaswamy's (1979) model is used to test whether expected dividend yield is priced for Hong Kong stocks. Unlike the case in the United States, there are no taxes on dividend income nor on capital gains in Hong Kong. It is found that expected dividend yield has no effect on stock returns. The results are consistent with the prediction of Litzenberger and Ramaswamy's (1979) model in a market where dividend income and capital gains are not taxed.

Bibliographic Note

Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to lbscholars@cityu.edu.hk.

Citation Format(s)

Dividends with no taxes: Evidence from Hong Kong. / Lim, Kok Chew.
In: Applied Economics Letters, Vol. 3, No. 5, 05.1996, p. 345-348.

Research output: Journal Publications and ReviewsRGC 21 - Publication in refereed journalpeer-review