Using data prior to the Jobs amp; Growth Tax Relief Reconciliation Act of 2003 Grullon and Michaely (2002) find that firms in the US are financing repurchases with funds that would otherwise have been used to increase dividends. This finding supports the hypothesis that firms are substituting...

In Australia, equal access share buybacks can be structured so that a portion of the buyback price is designated as a fully franked dividend. The tax benefits derived from this structure imply that off-market buybacks are sometimes offered to shareholders at a discount to the current market...

Private financing of large-scale infrastructure projects through Public Private Partnerships (PPPs) has grown in recent decades. Together with changes in conventional construction procedures, there have been changes in the project financing model. The use of PPPs raises questions as to the role...

Purpose – The purpose of this study is to explain rationale for regulatory change in Australia and New Zealand after the global financial crisis. Design/methodology/approach – Outline regulatory changes and relate to crisis experience and regulatory shortcomings exposed. Findings –...