Eﬀects of the 2003 Dividend Tax Cut: Evidence from Real Estate Investment Trusts

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Social capital refers to relationships of trust and mutuality that can be mobilized to achieve instrumental ends. Social capital is the relationship glue through which individuals, families and social networks navigate economic opportunity, social conflict and various institutions. While social capital is not just built through place-based networks, locality plays a role, particularly in many economically disadvantaged areas. Scholars such as Robert Putnam view social capital not simply as a by-product of prosperity but a potential precursor to prosperity; the quality and depth of formal and informal relationships can have a wealth building impact. Social capital for Putnam includes bonding...
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Eﬀects of the 2003 Dividend Tax Cut: Evidence from Real Estate Investment Trusts