|
The Relation of the Effective Tax rate with Dividend Policy and the Future Stock Return in Listed Companies in Tehran Stock Exchange
|
Shahram Golestani *   , Mostafa Deldar |
| Shahid Bahonar University of Kerman , golestani@uk.ac.ir |
|
|
Abstract: (8223 Views) |
| Effective tax rate as one of the most important indicators of tax efficiency has wide applications in economic decisions and policy making. This rate can also be used as a tool for leading investment. This paper investigates the relation of the effective tax rate with dividend policy and Stock return in listed companies in Tehran stock exchange. The study sample included 67 companies listed in Tehran stock exchange during the period 1380-1389. For data analyze and hypothesis testing linear multivariable regression model (OLS) base on cumulative data (pool) has been used. The research results show effective tax rate has a negative and significant effect on dividend policy. Indeed, while increasing effective tax rate, the companies significantly reduce their dividend. Also, results of this study show there is significant and positive relationship between effective tax rates and future stock return. In other words, increasing of effective tax rate, promotes the annual return rate. |
|
| Keywords: Policy Dividend, Stock Return, Effective Tax Rate, Tehran Stock Exchange. |
|
|
Full-Text [PDF 466 kb]
(9225 Downloads)
|
|
Type of Study: Research |
Subject:
Special
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
