摘要：The problem: what is the taxation impact on
dividend policy? While
much optimal taxation research focuses on the economic effects of taxation, the purpose of this study is to add a
new dimension by investigating the relationship between taxation and payout
ratio and some other
variables of dividend policy. These relations are tested using the data from
financial statements of KSE listed companies. The results show that tax shield
has no significant relation to the dividend payout ratio but mostly dividend
policy is due to the
size of the firm and its profitability.
关键词：Dividend Policy; Tax Shield; Determinant’s of Dividends
