to increase the dividend payout and distribute greater franking credits to Australian tax-resident shareholders, while …

Officer framework, this inconsistency can be resolved by setting the assumed value of franking credits (γ) to zero, consistent …

In this thesis I investigate whether two clear and simple indicators, dividends and franking credits, provide users …-period persistence model I demonstrate that dividends and higher franking credits identify firms in the different stages of the life … firms that pay unfranked dividends. Consistent with higher franking credits identifying more mature firms, fully franked …

capital asset pricing model, ignore the value of franking credits. Officer (1994) notes that if franking credits do affect the … derive the relationship between the value of franking credits (gamma) and the MRP. We show that the standard parameter … franking credits in an internally consistent manner. …

franking credits, appears to have caused the market to put a statistically significant value on franking credits. …