Konstantin Bräuer, Andreas Hackethal, Tobin Hanspal (2022). Consuming Dividends

Finance research paper presentation slides. This presentation summarizes the study Consuming Dividends by Konstantin Bräuer, Andreas Hackethal, Tobin Hanspal (2022). Slides cover the main question (why investors consume dividends despite theory predicting no effect), core ideas (planned and systematic consumption, choosing dividend-paying stocks, anticipating payments, mental accounting and planning), motivation (high marginal propensity to consume dividends, limited response to capital gains, competing mechanisms considered), methodology (proprietary German retail bank data, personal financial management tool, analysis of consumption around dividend payments with fixed effects), key results (strong consumption response, timing linked to payments, not limited to constrained households, driven by attention, planning, mental accounting, and not impulsivity, limited reinvestment, independent of notifications), and conclusions. Designed for students who need ready-to-use, detailed analysis with graphs, tables, and discussion points.