Determinants of a firm's decision to utilize a dividend reinvestment plan and shareholder participation rates: Australian evidence

This study examines the determinants of a firm's decision to utilize a dividend reinvestment plan (“DRP”) and shareholder participation rates under the Australian dividend imputation regime over the period 1995–2009. A DRP enables managers to increase the dividend payout and distribute greater franking credits to Australian tax-resident shareholders, while retaining cash in the firm for new investment opportunities.

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Year of publication:	2015
Authors:	Abraham, Mathew ; Marsden, Alastair ; Poskitt, Russell
Published in:	Pacific-Basin Finance Journal. - Elsevier, ISSN 0927-538X. - Vol. 31.2015, C, p. 57-77
Publisher:	Elsevier
Subject:	Dividend policy \| Dividend reinvestment plan \| Imputation \| Franking credits \| Taxes \| Shareholder participation

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Type of publication:	Article
Classification:	G35 - Payout Policy ; H25 - Business Taxes and Subsidies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011263622