Marginal stockholder tax rate and clientele effect in Singapore

The objective of this research is to determine the marginal stockholder tax rate and observe whether any clientele effect exists in the Singapore stock market. In addition, to review some of the studies concerning dividend policy in some of the major stock market. Research methodology adopted in...

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Main Authors: Lim, Soo Hai, Lou, Siew Thong, Tan, Aik Tian
Other Authors: Branson Kwok Chi Ring
Format: Final Year Project
Language:English
Published: 2015
Subjects:
Online Access:http://hdl.handle.net/10356/63020
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-630202023-05-19T05:44:58Z Marginal stockholder tax rate and clientele effect in Singapore Lim, Soo Hai Lou, Siew Thong Tan, Aik Tian Branson Kwok Chi Ring Nanyang Business School DRNTU::Business::Finance The objective of this research is to determine the marginal stockholder tax rate and observe whether any clientele effect exists in the Singapore stock market. In addition, to review some of the studies concerning dividend policy in some of the major stock market. Research methodology adopted includes collecting data from the Stock Exchange of Singapore journals, the Sabre Centre at the School of Accountancy and Business and other sources. Analysis were then performed to investigate the applicability of the clientele hypothesis in Singapore. The study reveals that the clientele effect in Singapore stock market is the same as that observed in the United States. This is so even when Singapore practices the imputation system of taxation while the United States uses the classical system. Our results are inconsistent with that by Ariff and Johnson (1990). Lastly, this study reviews the reasons why firms are reluctant to change dividend policy and concludes with the limitation of the study and recommending areas for further research. ACCOUNTANCY 2015-05-05T04:19:52Z 2015-05-05T04:19:52Z 1994 1994 Final Year Project (FYP) http://hdl.handle.net/10356/63020 en Nanyang Technological University 54 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Business::Finance
spellingShingle DRNTU::Business::Finance
Lim, Soo Hai
Lou, Siew Thong
Tan, Aik Tian
Marginal stockholder tax rate and clientele effect in Singapore
description The objective of this research is to determine the marginal stockholder tax rate and observe whether any clientele effect exists in the Singapore stock market. In addition, to review some of the studies concerning dividend policy in some of the major stock market. Research methodology adopted includes collecting data from the Stock Exchange of Singapore journals, the Sabre Centre at the School of Accountancy and Business and other sources. Analysis were then performed to investigate the applicability of the clientele hypothesis in Singapore. The study reveals that the clientele effect in Singapore stock market is the same as that observed in the United States. This is so even when Singapore practices the imputation system of taxation while the United States uses the classical system. Our results are inconsistent with that by Ariff and Johnson (1990). Lastly, this study reviews the reasons why firms are reluctant to change dividend policy and concludes with the limitation of the study and recommending areas for further research.
author2 Branson Kwok Chi Ring
author_facet Branson Kwok Chi Ring
Lim, Soo Hai
Lou, Siew Thong
Tan, Aik Tian
format Final Year Project
author Lim, Soo Hai
Lou, Siew Thong
Tan, Aik Tian
author_sort Lim, Soo Hai
title Marginal stockholder tax rate and clientele effect in Singapore
title_short Marginal stockholder tax rate and clientele effect in Singapore
title_full Marginal stockholder tax rate and clientele effect in Singapore
title_fullStr Marginal stockholder tax rate and clientele effect in Singapore
title_full_unstemmed Marginal stockholder tax rate and clientele effect in Singapore
title_sort marginal stockholder tax rate and clientele effect in singapore
publishDate 2015
url http://hdl.handle.net/10356/63020
_version_ 1770566196537589760