In this paper, we present a review of tax research. We survey four main areas of the
literature:(1) the informational role of income tax expense reported for financial …

This paper surveys the literature on payout policy. We start out by discussing several stylized
facts that are important to the development of any comprehensive payout policy framework …

We provide data and code that successfully reproduces nearly all cross-sectional stock
return predictors. Our 319 characteristics draw from previous meta-studies, but we differ by …

We construct a robust stochastic discount factor (SDF) summarizing the joint explanatory
power of a large number of cross-sectional stock return predictors. Our method achieves …

We study the out‐of‐sample and post‐publication return predictability of 97 variables shown
to predict cross‐sectional stock returns. Portfolio returns are 26% lower out‐of‐sample and …

Value investing, as defined by the Fama–French high book-to-market minus low book-to-
market (HML) factor, has underperformed growth investing since 2007, producing a …

The subject of corporate dividend policy has captivated economists for a long time, resulting
in intensive theoretical modeling and empirical examinations. A number of conflicting …

In the Handbook of Public Economics, vol. 5, top scholars provide context and order to new
research about mechanisms that underlie both public finance theories and applications …

We estimate firm‐level implied cost of equity capital based on recent advances in
accounting and finance research and examine the effect of dividend taxes on the cost of …

This chapter summarizes the current state of research on how taxation affects household
decisions with respect to portfolio structure and asset trading. It discusses long-standing …