search query: @indexterm INTERNATIONAL ECONOMICS / total: 437
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| Author: | Christoffersen, S.E.K. (et al.) |
| Title: | Crossborder dividend taxation and the preferences of taxable and nontaxable investors: evidence from Canada |
| Journal: | Journal of Financial Economics
2005 : OCT, VOL. 78:1, p. 121-144 |
| Index terms: | arbitrage dividends international economics investments taxation unit trusts Canada |
| Language: | eng |
| Abstract: | This article considers how managers respond to the conflicting preferences of their investors. The focus is on the conflict between the taxable and retirement accounts of international funds, which face different tradeoffs between dividends and capital gains. In principle, managers could resolve this conflict through dividend arbitrage, but a proprietary database of dividend-arbitrage transactions shows that in practice they cannot. Thus, managers must resolve it through their investment policies. |
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