In this paper we examine the implications of existing return of capital procedures which apply to Australian companies with surplus liquid assets which they wish to distribute to shareholders. This process is compared to the alternative of share repurchase. We conclude that the latter method is...

The paper tests the hedging and structure-conduct-perfor Mance (S.C.P.) models in the context of Australian finance company profit margins. Econometric results from pooled time-series/cross-section data were consistent with the S.C.P. model and inconsistent with the hedging model. Finance...