000			01885nam a2200229Ia 4500
003			OSt
005			20210817095206.0
008			210310s1966 eu ad fr 000 0deng d
040			_aCO-JMCR _cCO-JMCR
041	0		_aeng
082	0	4	_a658.155 / _bB862c _223
100	1		_aBrittain, John A., _916909 _eautor
245	1	0	_aCorporate dividend policy / _cJohn A. Brittain
260			_aWashington, D.C., : _bThe Brookings Institution, _c1966
300			_a254 páginas : _bilustraciones y gráficas a blanco y negro ; _c23 cm.
490	0		_aStudies of government finance
500			_aIncluye notas a pie de página y datos biográficos del autor.
505	0		_aAntecedents and Methodology -- The Effect of Liberalized Depreciation Allowances -- The Effect of Individual Income Tax Rates -- Other Factors in Corporate Dividend Policy -- The Dividend Policy of Industries -- The Dividend Policy of Firms: Time Series Analysis -- Pooling of Time Series and Cross Section Data
520	3		_aWhat factors determine corporate dividend policy? Why has the percentage of net profits paid out as dividends ranged from 35 percent to 65 percent since World War II? These are among the key questions analyzed in this study of the trends in corporate dividends since 1920. These trends have had sig nificant effects not only on the income of stockholders, but also on the value of corporate securities, total investment, and economic growth and stability. The study shows, among other things, that liberalization of deprecia tion allowances raises the level of dividend payments and that increases in individual tax rates or in interest rates lower the level of payments. These findings, the author points out, suggest that effects on dividends should be taken into account in the formulation of fiscal and monetary policy
650	1	4	_aDividendos _916911 _zEstados Unidos
942			_2ddc _cBK
999			_c8310 _d8310