The Australian Equities Database (AED) provided by the Australian Centre for Financial Studies (ACFS) provides the opportunity for a timely investigation of Australia's stock-listed firms and its stock markets. In this paper, the aim is to assess (i) the effectiveness of a firm's reinvestment of...

We report that whereas firms with high earnings distributions tend to have low to moderate growth (consistent with conventional theory), firms with low earnings distributions run the range between high and low performers. We interpret our findings for firm growth and payout policy in relation to...

The Australian Equities Database (AED) provided by the Australian Centre for Financial Studies (ACFS) provides the opportunity for a timely investigation of Australia’s stock-listed firms and its stock markets. Two elements that are crucial to the effective functioning of markets are (1) the...