FNCE10002 Lecture Notes - Lecture 11: Tax Rate, Chicago Mercantile Exchange, Dividend Policy
Document Summary
Taxation of dividends: classical tax system, used in australia for all taxpayers from 1940 to 1987, still applies to foreign companies in australia, used in other countries (e. g. usa). In australia, a classical tax system operated until july 1, 1987 when it was replaced by an imputation tax system. Cu(cid:396)(cid:396)e(cid:374)t dividends may signal future earnings and investment opportunities: especially firms with smoothed dividend policy, dividend policy changes have significant effects on share prices. Exchange (cme) and the asx: our focus is on forward contracts and option contracts. The increased cost is likely to substantially lower its profit margin. What should the exporter do: underlying position and exposure, the exporter is exposed to the price of the us dollar falling relative to the. Internationally there a(cid:396)e huge i(cid:374)te(cid:396)(cid:271)a(cid:374)k optio(cid:374) (cid:373)a(cid:396)kets (cid:894)(cid:862)o(cid:448)e(cid:396) the (cid:272)ou(cid:374)te(cid:396)(cid:863), o(cid:396) otc(cid:895) a(cid:374)d many large exchange-traded option markets: example: in 2015, trading in options on the chicago board options exchange (cboe) was.
