Discovery Projects - Grant ID: DP140102918

Funding Activity

Website
http://dataportal.arc.gov.au/NCGP/API/grants/DP140102918

Funding Status
Closed

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Funded Activity Summary

The impact of payout policy changes on firm value and short selling activities across different taxation regimes. Brealey et al (2011) assert that we don't know enough yet about how payout policy varies across firms. This project examines the information content of dividend changes and repurchase programs and the long-term market impact of these announcements, controlling for the substitution effect of repurchases/dividends in different institutional/tax regimes. This project also examines whether short sellers manifest abnormal behaviour around the announcement of dividend changes and repurchase programs, and whether earnings are manipulated upwards to maintain the dividend or downwards prior to the announcement of repurchase programs. The findings will be of major interest to academics, managers, investors and regulators.

Funded Activity Details

Start Date: 07-2014

End Date: 05-2017

Funding Scheme: Discovery Projects

Funding Amount: $180,000.00

Funder: Australian Research Council

Research Topics

ANZSRC Field of Research (FoR)

Investment and Risk Management | Banking, Finance and Investment | Finance | Financial Econometrics

ANZSRC Socio-Economic Objective (SEO)

Finance Services | Investment Services (excl. Superannuation) | Superannuation and Insurance Services |

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