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Dividend or reinves...
Dividend or reinvestment when taxes are considered?
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- Holm, Sören (författare)
- Swedish University of Agricultural Sciences,Sveriges lantbruksuniversitet,Institutionen för skoglig resurshushållning,Department of Forest Resource Management
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- Jonsson, Bengt (författare)
- Swedish University of Agricultural Sciences,Sveriges lantbruksuniversitet,Institutionen för skoglig resurshushållning,Department of Forest Resource Management
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(creator_code:org_t)
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- ISBN 9789197789653
- 2010
- Engelska.
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Serie: Skog & trä, 1403-6398
- Relaterad länk:
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Abstract
Ämnesord
Stäng
- The article analyzes theoretically how a firm maximizes the value of shareholder’s wealth with its policy for dividend/reinvestment of the profit from operations, when taxes are considered. In the study, the net present value, i.e. the present value after deduction for taxes, is used as objective function. Four different taxes are considered. The analysis shows the terms on which it is profitable to receive dividend payout or to reinvest at an arbitrary time. Under the assumption of a unique maximum net present value, the terms at the time for the maximum net present value are also presented. The article can be applied in forest economy.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Publikations- och innehållstyp
- vet (ämneskategori)
- rap (ämneskategori)
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