Abolishing franking credit refunds: evidence from an event study
<p>Competing asset pricing models offer different predictions on whether dividend taxes affect share prices. This thesis conducts an event study of the announcement of a reform to Australia’s dividend imputation system. The reform would have abolished refunds to taxpayers with excess franking...
| Main Author: | |
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| Format: | Thesis |
| Language: | English |
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2020
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| Subjects: |
| _version_ | 1817932784039100416 |
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| author | McCarthy, M |
| author_facet | McCarthy, M |
| author_sort | McCarthy, M |
| collection | OXFORD |
| description | <p>Competing asset pricing models offer different predictions on whether dividend taxes affect share prices. This thesis conducts an event study of the announcement of a reform to Australia’s dividend imputation system. The reform would have abolished refunds to taxpayers with excess franking credits, which would have had the effect of raising taxes on dividends paid to domestic shareholders. The results provide no evidence that the announcement reduced share prices.</p> |
| first_indexed | 2024-03-06T20:57:09Z |
| format | Thesis |
| id | oxford-uuid:39a58524-a4ff-45e9-9520-5f8373997591 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-12-09T03:43:25Z |
| publishDate | 2020 |
| record_format | dspace |
| spelling | oxford-uuid:39a58524-a4ff-45e9-9520-5f83739975912024-12-07T14:31:42ZAbolishing franking credit refunds: evidence from an event studyThesishttp://purl.org/coar/resource_type/c_bdccuuid:39a58524-a4ff-45e9-9520-5f8373997591EconomicsEnglishHyrax Deposit2020McCarthy, M<p>Competing asset pricing models offer different predictions on whether dividend taxes affect share prices. This thesis conducts an event study of the announcement of a reform to Australia’s dividend imputation system. The reform would have abolished refunds to taxpayers with excess franking credits, which would have had the effect of raising taxes on dividends paid to domestic shareholders. The results provide no evidence that the announcement reduced share prices.</p> |
| spellingShingle | Economics McCarthy, M Abolishing franking credit refunds: evidence from an event study |
| title | Abolishing franking credit refunds: evidence from an event study |
| title_full | Abolishing franking credit refunds: evidence from an event study |
| title_fullStr | Abolishing franking credit refunds: evidence from an event study |
| title_full_unstemmed | Abolishing franking credit refunds: evidence from an event study |
| title_short | Abolishing franking credit refunds: evidence from an event study |
| title_sort | abolishing franking credit refunds evidence from an event study |
| topic | Economics |
| work_keys_str_mv | AT mccarthym abolishingfrankingcreditrefundsevidencefromaneventstudy |