Why do stock prices drop by less than the value of the dividend? Evidence from a country without taxes

Marginal Stockholder Tax Rates and the Clientele Effect

Edwin J. Elton, Martin J. Gruber · The Review of Economics and Statistics · 1970 · 935 citations

Social Sciences, Business Economics, Economics +11

Dividends and taxes

Merton H. Miller, Myron S. Scholes · Journal of Financial Economics · 1978 · 738 citations

Public Affairs, Business Economics, Economics +17

Dividends and Taxes: Some Empirical Evidence

Merton H. Miller, Myron S. Scholes · Journal of Political Economy · 1982 · 689 citations

Public Affairs, Economics, Finance +15

The Ex‐Dividend Day Behavior of Stock Prices: A Re‐Examination of the Clientele Effect

Avner Kalay · The Journal of Finance · 1982 · 444 citations

Law, Economics, Finance +14

Tax-induced trading around ex-dividend days

Josef Lakonishok, Theo Vermaelen · Journal of Financial Economics · 1986 · 345 citations

Law, Economics, Finance +9