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    国内外已有的文献为本文提供了研究方法,但是大部分文献得出的结论各异,无法达成一致,且年代久远。本文基于新出的财税[2012]85号政策继续研究这一问题,得出自己的结论,并对已有文献进行补充。

    参考文献

     

    [1]李增福,张淑芳.股利所得税减免能提高上市公司的现金股利支付吗——基于财税[2005]102号文的研究[J].财贸经济,2010(5):26-31.  

    [2]刘利.我国股利政策税收效应的实证分析[J].世界经济情况,2006(15):22-24+12.  

    [3]都志灵,黄培清.股利实施与股价变化[J].山东矿业学院学报(社会科学版),1999(3):39-42.

    [4]许洁.我国股利政策税收效应的实证研究[D].导师:王志强.:厦门大学,2002.

    [5]徐庆川,严棋.CAPM模型与三因素模型的实证分析——基于上海证券市场的检验[J].金融经济,2012(18):153-155.  

    [6]曾亚敏,张俊生.股利所得税削减对权益资产价格的影响——以财税[2005]102为背景的事件研究[J].经济科学,2005(6):84-94.  

    [7]朱莲华.中国A股市场股利税收问题实证研究[D].导师:吴冲锋.:上海交通大学,2008.

    [8]Auerbach Alan,Kevin Hassett. The 2003 Dividend Tax Cuts and the Value of the Firm: An Event Study[J].Universityof California at Berkeley,2005(2):199-214.

    [9]Ayers B. Cloyd,C. Robinson. The Effect of Shareholder-Level Dividend Taxes on Stock Prices: Evidence from the Revenue Reconciliation Act of 1993[J].Accounting Review,2002(4):933-947.

    [10]B Rosenberg, K Raid, R Lanstein. Persuasive Evidence on Market Inefficiency[J]. Journal of Portfolio Management,1985(11):9-17.

    [11]Banz, Rolf W. The Relationship Between Return and Market Value of Common Stocks[J]. Journal of Financial Economics,1981(9):3-18.

    [12]Black F.,Scholes M. The Effects of Dividend Yield and Dividend Policy on Common Stock Prices and Returns[J].Journal of Financial Economics,1974(1):1-22.

    [13]Brennan, M.J. Taxes, Market Valuation and Corporate Financial Policy[J].National Tax Journal, 1970(3): 417-427.

    [14]Casey K. Mike,Dwight C. Anderson,Hani I. Mesak,Ross N. Dickens. Examining the Impact of the 1986 Tax Reform Act on Corporate Dividend Policy: A New Methodology[J].Financial Review,1999(3):33-46.

    [15]Elton E.,Gruber M.S. Marginal Stockholder Tax Rates and the Clientele Effect[J].Review of Economics and Statistics,1970(1):68-74.

    [16]Fama, Eugene F.,Kenneth R. French. The Cross-section of Expected Stock Returns[J]. Journal of Finance,1992(2):427-465.

    [17]Fama, Eugene F.,Kenneth R. French. Common Risk Factors in The Returns on Stocks and Bonds[J]. Journal of Financial Economics,1993(1):3-56.

    [18]Ioannis Asimakopoulos,Lynn Hodgkinson. Ex-day Price Behavior,Market Microstructure and Settlement Costs[J].British Accounting Review,2001(7):491-505.

    [19]Kalay A. The Ex-Dividend Day Behavior of Stock Prices: A Reexamination of the Clientele Effect[J].Journal of Finance,1982(4):1059-1070. 

    [20]Litzenberger,R., Ramaswamy, K. The Effect of Personal Taxes and Dividends on Capital AssetPrices: Theory and Market Equilibrium[J].Journal of Financial Economics,1979(7):163-195.

    [21]Litzenberger, R.,Ramaswamy, K. Dividends, Short Selling Restrictions, Tax-Induced Investor Clienteles and Market Equilibrium[J].Journal of Finance1980(2):469-482.

    [22]Miller, M.H., Scholes, M.S. Dividends and Taxes[J].Journal of Financial Economics,1978 (6):333-364.

    [23]Poterba, J., Summers, L. The Economic Effects of Dividend Taxation[J].Recent Advances in Corporate Finance,1985(6):227-284.

     


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