arbiter
JournalsAccount

DIVIDEND IMPUTATION and the Australian financial system

Kevin Thomas Davis

JASSA: The Finsia Journal of Applied Finance2016article
ABDC B
Weight
0.50

Abstract

There is ongoing debate about the precise effects of the dividend imputation system on the Australian financial sector, company and investor behaviour, and real sector consequences. In discussions about the costs, benefits and the future of imputation, a critical but largely ignored issue is the need to identify the appropriate counterfactual. Any alternative will involve some differences between Australian and overseas tax systems and differential treatment between investors, which will involve various types of distortions. Based on the available evidence, this paper argues that the benefits of imputation outweigh its costs. Moreover, the disruption to financial markets caused by substantive change such as abolishing imputation would be substantial

4 citations

Cite this paper

@article{kevin2016,
  title        = {{DIVIDEND IMPUTATION and the Australian financial system}},
  author       = {Kevin Thomas Davis},
  journal      = {JASSA: The Finsia Journal of Applied Finance},
  year         = {2016},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

DIVIDEND IMPUTATION and the Australian financial system

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.38 × 0.4 = 0.15
M · momentum0.80 × 0.15 = 0.12
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.