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Taxes and dividend policy under alternative tax regimes

Pattenden, Kerry; Twite, Garry


This paper examines changes in corporate dividend policy around the introduction of a dividend imputation tax system. This represented a significant change to the Australian tax framework and allows us to test the effect of differential taxation on corporate dividend policy. Consistent with the tax preference for the distribution of dividends, we find dividend initiations, all dividend payout measures and dividend reinvestment plans increased with the introduction of dividend imputation....[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Journal of Corporate Finance
DOI: 10.1016/j.jcorpfin.2007.09.002


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