The Dividend Substitution Hypothesis: Australian Evidence.

In a perfect capital market firms are indifferent to either dividends or repurchases as payout mechanisms, suggesting that the two payout methods should be perfect substitutes. Empirical research at the single country level, as well as cross country studies, provide evidence that dividends and repur...

Full description

Bibliographic Details

Published in:	Abacus Vol. 51; no. 1; pp. 37 - 63
Main Authors:	Brown, Christine, Handley, John, O'Day, James
Format:	Article
Published:	Wiley-Blackwell Mar2015
Subjects:	Stock repurchasing Capital market Dividends Capital gains Tax credits Financial aid
Online Access:	View this record in EBSCOhost