In this paper, I test the dividend clientele hypothesis (DCH) by examining the impact of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the 2003 tax act) on household portfolio dividend yields. The DCH predicts that the 2003 tax act, which reduced the tax-disadvantage of dividends differentially across the income distribution, would cause high income households to shift their portfo...

a vast number of organizational projects as well as complexity of decision making process can cause particular challenges for project management and its leadership. in order to use organization assets and opportunities efficiently, it is necessary that manager implement a comprehensive multidimensional project portfolio management system that considers economic, social and technical details of ...

this paper presents dynamic portfolio model based on the merton's optimal investment-consumption model, which combines dynamic synthetic put option using risk-free and risky assets. this paper is extended version of methodological paper published by yuan yao (2012) cite{26}. because of the long history of the development of foreign financial market, with a variety of financial derivatives, the ...

The onset of lactation in modern dairy cows is characterized by a negative energy balance, due to a drastic increase in energy requirements for milk yield and a simultaneous depression in dry matter intake around parturition. Prioritization of milk yield over maternal body functions is a universal biological strategy in all lactating mammals to buffer the newborn's nutrition from fluctuations i...

In this paper, we present and analyze yield enhancement designs for wafer scale Cube Connected Cycles (CCC). Improvements in yield can be achieved through silicon area reduction and/or through the incorporation of defect/fault tolerance into the architecture. Consequently, we first propose a new compact layout strategy for CCC. We then present a novel implementation of wafer scale CCC based on ...

We show how optimization methods from economics known as portfolio strategies can be used for minimizing download times in the Internet and travel times in freeway traffic. While for Internet traffic, there is an optimal restart frequency for requesting data, freeway traffic can be optimized by a small percentage of vehicles coming from on-ramps. Interestingly, the portfolio strategies can decr...

C onservationists must make hard choices about where to invest limited resources for the protection of biological diversity. Numerous prioritization schemes have identified places where biodiversity is especially rich or risks are especially urgent (1). Application of return on investment (ROI) thinking promises to make conservation investments much more efficient by explicitly incorporating ec...

We study the pinch-off dynamics of droplets of yield stress and shear thinning fluids. To separate the two non-Newtonian effects, we use a yield stress material for which the yield stress can be tuned without changing the shear thinning behavior, and a shear thinning system (without a yield stress) for which the shear thinning can be controlled over a large range, without introducing too much e...

This study aimed to present a model for portfolio risk premium assessment of companies listed in Tehran Stock Exchange. In order to achieve this purpose, monthly data of 150 companies listed in Tehran Stock Exchange during 2007-2017 was used. In this study, the predictive powers of FamaFrench three-factor model [11], Carhart four-factor model [1], Fama - French five-factor model [24], Brousseau...