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Purpose: The purpose of this study is to investigate whether biotechnology and health-care firms in Australia have poorer continuous disclosure (CD) practices as reflected in Australian Securities Exchange (ASX) queries relative to other firms. Design/methodology/approach: Univariate tests and...
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While share buybacks in the classical perfect markets context are well understood, tax rules often distort the wealth transfer in non-obvious ways. Unique Australian tax rules for off-market share buybacks allow buyback participants to receive tax credits and reduced capital gains tax. These...
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