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THE COST OF EQUITY UNDER THE AUSTRALIAN DIVIDEND IMPUTATION TAX SYSTEM
Author(s) -
Monkhouse Peter H.L.
Publication year - 1993
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/j.1467-629x.1993.tb00321.x
Subject(s) - imputation (statistics) , capital asset pricing model , dividend , economics , equity (law) , financial economics , econometrics , business , actuarial science , finance , missing data , statistics , mathematics , political science , law
This paper derives a Capital Asset Pricing Model (“CAPM”) in the context of the Australian dividend imputation tax system. The effect of dividend imputation on the estimated risk premium is discussed. The structure and implications of the derived CAPM are also examined.