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Article
Publication date: 25 November 2013

Sarah Lindop and Kevin Holland

The purpose of this paper is to investigate the extent to which UK equity prices reflect shareholder level taxation on dividends (dividend tax capitalisation). Despite an…

1438

Abstract

Purpose

The purpose of this paper is to investigate the extent to which UK equity prices reflect shareholder level taxation on dividends (dividend tax capitalisation). Despite an extensive theoretical and empirical literature controversy exists.

Design/methodology/approach

Using a sample of UK firm year ends from 1991 to 2007 archival accounting and share price data are used to test for the presence or otherwise of dividend tax capitalisation.

Findings

The paper finds evidence of equity values reflecting shareholder level dividend taxation. In particular, a significant reduction in the valuation of retained earnings, a measure of dividend paying potential, is observed around the July 1997 abolition of the repayment of dividend tax credits to tax exempt shareholders. This suggests a link between shareholder level taxation of dividends and firms’ cost of capital.

Research limitations/implications

The analysis focuses on share prices and is therefore subject to an underlying assumption of shareholders’ understanding tax and other potential relevant information.

Practical implications

The taxation of dividends is an important issue because of the potential for it to influence firms’ cost of capital and therefore investment decisions. Further, non-tax costs may be incurred to the extent that attempts are made to mitigate any “adverse” tax effects.

Social implications

The results indicate that taxation of dividends and share prices are associated and therefore also indirectly firms’ cost of capital. This linkage has implications for investment appraisal and the allocation of capital between competing demands.

Originality/value

In using an asset valuation approach the limitations of alternate methods of examining shareholder level taxation of dividends are avoided, e.g. analysis of dividend drop of ratios.

Details

Journal of Applied Accounting Research, vol. 14 no. 3
Type: Research Article
ISSN: 0967-5426

Keywords

Available. Content available
Article
Publication date: 25 November 2013

171

Abstract

Details

Journal of Applied Accounting Research, vol. 14 no. 3
Type: Research Article
ISSN: 0967-5426

Available. Open Access. Open Access
Article
Publication date: 9 April 2024

Ferdy Putra and Doddy Setiawan

This paper aims to synthesize the diverse literature on nomination and remuneration committees and provide avenues for future research.

1742

Abstract

Purpose

This paper aims to synthesize the diverse literature on nomination and remuneration committees and provide avenues for future research.

Design/methodology/approach

This study provides a comprehensive literature review of theoretical and empirical studies published in reputable international journals indexed by Scopus.

Findings

The literature review reveals several aspects of the nomination and remuneration committee. These aspects have been classified into the definition of the nomination and remuneration committee, dimensions of the nomination and remuneration committee, measurement and research review results, reasons for conflict empirical findings, company dynamics and research on moderators, as well as recommending future research.

Research limitations/implications

Our literature review shows that nomination and remuneration committees play a role in improving board performance and company performance, reducing agency conflicts and improving corporate governance to provide implications for companies, regulators and investors and pave the way for future research.

Originality/value

This paper identifies issues related to nomination and remuneration committees, their theoretical and practical implications and avenues for future research.

Details

Journal of Capital Markets Studies, vol. 8 no. 1
Type: Research Article
ISSN: 2514-4774

Keywords

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Article
Publication date: 1 July 1997

Sarah J. Clarke and Peter Willett

This paper reports a comparison of the retrieval effectiveness of the Alta Vista, Excite and Lycos Web search engines. A method is described for comparing the recall of the three…

412

Abstract

This paper reports a comparison of the retrieval effectiveness of the Alta Vista, Excite and Lycos Web search engines. A method is described for comparing the recall of the three sets of searches, despite the fact that they are carried out on non‐identical sets of Web pages. It is thus possible, unlike previous comparative studies of Web search engines, to consider both recall and precision when evaluating the effectiveness of search engines.

Details

Aslib Proceedings, vol. 49 no. 7
Type: Research Article
ISSN: 0001-253X

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Book part
Publication date: 2 August 2023

Katherine Farrimond

The figure of the femme fatale is attached to a range of contested meanings around femininity, sexuality and violence. Despite its ambiguity and its origins in art, myth and…

Abstract

The figure of the femme fatale is attached to a range of contested meanings around femininity, sexuality and violence. Despite its ambiguity and its origins in art, myth and fiction, the term has proven popular in giving a name to violent articulations of female power in non-fictional settings by journalists. In this chapter, I outline the figure of the femme fatale as an archetype of women's violence that appears throughout Western popular culture, and provide an overview of the term's definitions and cultural meanings. In doing so, I trace the figure's movement across different forms and genres of popular culture. I identify a number of themes in the existing scholarship around the figure: feminist criticism of the figure; the value that feminist film scholars have found in the figure as a symbol of power and sexual transgression; the relationship between the femme fatale, race and the colonial imagination; and the way the idea of the femme fatale has been used in reporting of real-life women's violence.

Details

The Emerald International Handbook of Feminist Perspectives on Women’s Acts of Violence
Type: Book
ISBN: 978-1-80382-255-6

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