Corporate Governance and Dividend Reinvestment Plans: Insights from Imputation Tax in Australia

dc.contributor.author Shamsabadi, Hussein Abedi
dc.contributor.author Tebourbi, Imen
dc.contributor.author Nourani, Mohammad
dc.contributor.author Mina, Byung S.
dc.date.accessioned 2020-11-16T18:11:38Z
dc.date.available 2020-11-16T18:11:38Z
dc.date.copyright © 2020
dc.date.issued 2021-07
dc.description This article is not available at CUD collection. The version of scholarly record of this article is published in Finance Research Letters (2021), available online at: https://doi.org/10.1016/j.frl.2020.101810 en_US
dc.description.abstract This paper investigates the supply of Dividend Reinvestment Plans (DRPs) in relation to corporate governance and imputation tax system in Australia. Since DRPs are popular among large firms, we compiled the data of 300 largest companies listed on the Australian stock exchange (ASX300) during 2001-2013. Tobit regression method is used to estimate the models. Results indicate that good corporate governance leads to the higher supply of DRPs. We also found that franked dividend and heavily discounted DRPs weaken the positive association between governance and DRPs, illustrating the importance of institutional settings. Our findings imply that good corporate governance should consider a variety of clientele demands for dividend policy. © 2020 en_US
dc.identifier.citation Shamsabadi, H. A., Tebourbi, I., Nourani, M., & Min, B. S. (2021). Corporate Governance and Dividend Reinvestment Plans: Insights from Imputation Tax in Australia. Finance Research Letters. 101810. https://doi.org/10.1016/j.frl.2020.101810 en_US
dc.identifier.issn 15446123
dc.identifier.uri https://doi.org/10.1016/j.frl.2020.101810
dc.identifier.uri http://hdl.handle.net/20.500.12519/271
dc.language.iso en en_US
dc.publisher Elsevier Ltd en_US
dc.relation Authors Affiliations : Shamsabadi, H.A., Department of Business Strategy and Innovation, Griffith University, 170 Kessels Road QLD 4111, Australia; Tebourbi, I., Faculty of Management, Canadian University Dubai, P.O. Box 117781, 1st Interchange, Sheikh Zayed RoadDubai, United Arab Emirates; Nourani, M., School of Management, Universiti Sains Malaysia, Penang, 11800, Malaysia; Min, B.S., Department of Business Strategy and Innovation, Griffith University, 170 Kessels Road QLD 4111, Australia
dc.relation.ispartofseries Finance Research Letters;
dc.relation.uri https://s100.copyright.com/AppDispatchServlet?publisherName=ELS&contentID=S154461232031624X&orderBeanReset=true
dc.rights Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC-BY-NC-ND)
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject Australia en_US
dc.subject Corporate governance en_US
dc.subject Dividend policy en_US
dc.subject Dividend reinvestment plans en_US
dc.subject Imputation tax en_US
dc.title Corporate Governance and Dividend Reinvestment Plans: Insights from Imputation Tax in Australia en_US
dc.type Article en_US
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