Michael J. Dempsey

TDT University

District 7

Ho Chi Minh City, 3001

Vietnam

Financial Research Network (FIRN)

C/- University of Queensland Business School

St Lucia, 4071 Brisbane

Queensland

Australia

SCHOLARLY PAPERS

33

DOWNLOADS
Rank 5,714

SSRN RANKINGS

Top 5,714

in Total Papers Downloads

7,416

CITATIONS
Rank 16,728

SSRN RANKINGS

Top 16,728

in Total Papers Citations

42

Scholarly Papers (33)

1.

The Capital Asset Pricing Model (CAPM): The History of a Failed Revolutionary Idea in Finance?

Number of pages: 29 Posted: 03 May 2013
Michael J. Dempsey
TDT University
Downloads 1,271 (14,938)
Citation 4

Abstract:

Loading...

Finance models, CAPM, Fama and French three-factor model

Corporate Financial Management: Time to Change the Cost of Capital Paradigm?

Number of pages: 39 Posted: 31 Jan 2003
Michael J. Dempsey
TDT University
Downloads 1,226 (15,506)
Citation 3

Abstract:

Loading...

Corporate finance, financial management, behavioral finance, cost of capital, investment decision-making, capital structure, dividend policy, positive theory, Modigliani and Miller, Kuhn, paradigm shift

Corporate Financial Management: Time to Change the Cost of Capital Paradigm?

Critical Perspectives on Accounting, Vol. 7, No. 6, pp. 617-639, 1996
Posted: 31 Jan 2003
Michael J. Dempsey
TDT University

Abstract:

Loading...

Corporate finance, financial management, behavioral finance, cost of capital, investment decision-making, capital structure, dividend policy, positive theory, Modigliani and Miller, Kuhn, paradigm shift

3.

A Multidisciplinary Perspective on the Evolution of Corporate Investment Decision Making

Accounting, Accountability and Performance, Vol. 9, No. 1, June 2003
Number of pages: 33 Posted: 10 Dec 2003
Michael J. Dempsey
TDT University
Downloads 1,046 (20,070)
Citation 4

Abstract:

Loading...

investment, NPV, cost of capital, strategic investment, behavioural investment, corporate investment, option value, reputation, commitment and trust

4.

Special Dividend Announcements: Signaling or Free Cash Flow Hypothesis‘ Evidence from UK Firms

22nd Australasian Finance and Banking Conference 2009, Finance and Corporate Governance Conference 2010 Paper
Number of pages: 23 Posted: 23 Sep 2009 Last Revised: 12 Jan 2010
Balasingham Balachandran, Manali Mahamuni and Michael J. Dempsey
La Trobe University - School of Economics and Finance, La Trobe University - Graduate School of Management and TDT University
Downloads 599 (43,724)

Abstract:

Loading...

Ethical Finance: An Agenda for Consolidation or for Radical Change?

Number of pages: 25 Posted: 06 Dec 2002
Michael J. Dempsey
TDT University
Downloads 551 (48,117)

Abstract:

Loading...

ethics, ethical finance, capitalist systems, corporate governance, economic systems

Ethical Finance: An Agenda for Consolidation or for Radical Change?

Critical Perspectives on Accounting, Vol. 11, pp. 531 - 548, 2000
Posted: 06 Dec 2002
Michael J. Dempsey
TDT University

Abstract:

Loading...

ethics, ethical finance, capitalist systems, corporate governance, economic systems

6.
Downloads 495 (55,746)
Citation 1

Abstract:

Loading...

leverage, asset pricing, CAPM, factor models, MM propositions

Downloads 265 (113,862)

Abstract:

Loading...

cost of capital, capital structure, leverage, personal taxes, tax imputation, pecking order hypothesis

Valuation and Cost of Capital Formulae with Corporate and Personal Taxes: A Synthesis Using the Dempsey Discounted Dividends Model

Journal of Business Finance and Accounting, Vol. 28, Nos. 3 & 4, pp. 357-378, 2001
Posted: 31 Jan 2003
Michael J. Dempsey
TDT University

Abstract:

Loading...

cost of capital, capital structure, leverage, personal taxes, tax imputation, pecking order hypothesis

8.

The Problem of Pre-Tax Valuations: A Note

Journal of Applied Research in Accounting and Finance, Vol. 5, No. 2, pp. 10-13, 2010 , Monash U. Department of Business Law & Taxation Research Paper No. 1755324
Number of pages: 11 Posted: 05 Feb 2011
Michael J. Dempsey, Michael D. McKenzie and Graham Partington
TDT University, The University of Sydney - Discipline of Finance and University of Sydney - School of Business - Finance Discipline
Downloads 256 (118,634)
Citation 1

Abstract:

Loading...

Financial Reporting, Discount Rates

The Nature of Market Growth, Risk and Return

Number of pages: 38 Posted: 20 Nov 2002
Michael J. Dempsey
TDT University
Downloads 242 (125,113)

Abstract:

Loading...

market risk premium, idiosyncratic risk, volatility, size effect, investment time horizon, exponential growth

The Nature of Market Growth, Risk and Return

Financial Analysts Journal, Vol. 58, No. 3, pp. 45-59, 2002
Posted: 11 Nov 2002
Michael J. Dempsey
TDT University

Abstract:

Loading...

the market risk premium, idiosyncratic risk, volatility, size effect, investment time horizon, exponential growth

Investor Tax Rationality and the Relationship between Dividend Yields and Equity Returns

Number of pages: 9 Posted: 06 Dec 2002
Michael J. Dempsey
TDT University
Downloads 217 (139,514)

Abstract:

Loading...

tax rationality, ex-day price behavior, dividend yield, personal taxes, imputation tax system, discounted dividends, asset pricing, payout policy

Investor Tax Rationality and the Relationship between Dividend Yields and Equity Returns

Journal of Banking and Finance, Vol. 25, No. 9, pp. 1681-8211, 2001
Posted: 06 Dec 2002
Michael J. Dempsey
TDT University

Abstract:

Loading...

tax rationality, ex-day price behavior, dividend yield, personal taxes, imputation tax system, discounted dividends, asset pricing, payout policy

11.

Are Firm Size and Book-to-Market Priced Risk Factors? Chinese Evidence

2012 Financial Markets & Corporate Governance Conference
Number of pages: 30 Posted: 11 Dec 2011
Michael J. Dempsey
TDT University
Downloads 200 (150,957)
Citation 1

Abstract:

Loading...

Chinese stock market, Fama and French model, Up-market, Down-market, Volatility

12.

The Modigliani and Miller (MM) Propositions: The History of a Failed Foundation for Corporate Finance?

A version of the paper appears in the journal Abacus (2015), Vol.50, No.3, p.279-295, The paper also provides an introduction for “Stock Markets, Investments and Corporate Behavior: A Conceptual Framework of Understanding” by Michael Dempsey (World Scientific, Imperial college Press; ISBN: 978-1-78326-699-9).
Number of pages: 27 Posted: 19 Sep 2015
Michael J. Dempsey
TDT University
Downloads 192 (156,867)

Abstract:

Loading...

Modigliani and Miller propositions, net present value, NPV, behavioral finance, investment, cost of capital

13.

The CAPM: A Case of Elegance is for Tailors?

Number of pages: 8 Posted: 05 Jun 2013
Michael J. Dempsey
TDT University
Downloads 113 (242,220)

Abstract:

Loading...

asset pricing, CAPM, Fama and French three factor model

14.

The Bid-Ask Bounce Effect and the Pricing of Cross-Sectional Idiosyncratic Volatility: An Australian Study

2015 Financial Markets & Corporate Governance Conference
Number of pages: 16 Posted: 13 Feb 2015
Bin Liu, Michael J. Dempsey and Monica Tan
RMIT University, TDT University and RMIT University
Downloads 109 (248,554)

Abstract:

Loading...

idiosyncratic volatility, asset pricing, bid-ask bounce, stock returns, Australia

15.

Is Fundamental Indexation Able to Time the Market? Evidence from the Dow Jones Industrial Average & the Russell 1000

Number of pages: 46 Posted: 09 Jul 2014 Last Revised: 31 Oct 2014
Doris Chen, Michael J. Dempsey and Paul Lajbcygier
Monash University, TDT University and Monash University - Department of Banking & Finance
Downloads 107 (251,792)
Citation 1

Abstract:

Loading...

Indexing; Market Capitalized Weighted Index; Fundamental Weighted Index; Equal Weighted Index; Market timing.

16.

The Financial Profiles of Takeover Target Firms and Their Takeover Predictability: Australian Evidence

Corporate Ownership and Control, Vol. 8, Issue 3, 2011, Finance and Corporate Governance Conference 2010
Number of pages: 37 Posted: 15 Jul 2011
Shu Wen Cai, Balasingham Balachandran and Michael J. Dempsey
Australian National University (ANU), La Trobe University - School of Economics and Finance and TDT University
Downloads 98 (267,300)

Abstract:

Loading...

corporate takeovers, takeover predictability, Palepu model

Australian Specific Bank Features and the Impact of Income Diversification on Bank Performance and Risk

Number of pages: 45 Posted: 14 Mar 2014
Piyadasa Edirisuriya, Abey Gunasekarage and Michael J. Dempsey
Monash University, Monash University and TDT University
Downloads 77 (313,632)

Abstract:

Loading...

Diversification; Australian banks; Bank performance; Market performance

Australian Specific Bank Features and the Impact of Income Diversification on Bank Performance and Risk

Australian Economic Papers, Vol. 54, Issue 2, pp. 63-87, 2015
Number of pages: 25 Posted: 23 Jun 2015
Piyadasa Edirisuriya, Abey Gunasekarage and Michael J. Dempsey
Monash University, Monash University and TDT University
Downloads 0
  • Add to Cart

Abstract:

Loading...

18.

The Mathematics of Idiosyncratic Volatility and the Small Firm Effect: Australian Evidence

Number of pages: 24 Posted: 27 Jun 2011
Michael J. Dempsey
TDT University
Downloads 73 (320,120)

Abstract:

Loading...

19.

Stock Market's Assessment of Bank Diversification: Evidence from Listed Public Banks in South Asian Countries

Number of pages: 48 Posted: 10 Apr 2013
Michael J. Dempsey, Piyadasa Edirisuriya and Abey Gunasekarage
TDT University, Monash University and Monash University
Downloads 57 (363,945)

Abstract:

Loading...

South Asian Countries, Financial Deregulation, Stock Markets, Listed Public Banks, Bank Diversification

20.

Evidence on Industry Cost of Equity Estimators

The International Journal of Business and Finance Research, v. 8 (4) p. 1-15, 2014
Number of pages: 16 Posted: 12 Dec 2014
Omar Gharaibeh, Graham N. Bornholt and Michael J. Dempsey
Griffith University - Griffith Business School, Griffith University - Department of Accounting, Finance and Economics and TDT University
Downloads 52 (379,792)

Abstract:

Loading...

Cost of Equity, Defensive Industries, Constant Beta

21.

The Fama and French Three-Factor Model in Developing Markets: Evidence from the Chinese Markets (1995-2008)

Number of pages: 30 Posted: 11 Jul 2018
Michael J. Dempsey and Man Li
TDT University and The University of Western Australia - UWA Business School
Downloads 44 (407,306)

Abstract:

Loading...

Chinese Stock Market, Fama and French Model, Up-Market, Down-Market, Volatility

22.

Dividend Reinvestment Plans: A Tax-Based Incentive Under the Australian Imputation Tax System

Australian Tax Forum, Vol. 30, 2015
Number of pages: 19 Posted: 28 Jul 2015
Mathew Abraham, Michael J. Dempsey and Alastair Marsden
Whitireia Business School, TDT University and University of Auckland - Business School
Downloads 41 (418,470)
  • Add to Cart

Abstract:

Loading...

dividend policy; dividend reinvestment plan; imputation; franking credits; taxes

23.

Academic Finance: Responsible Enquiry or Stamp Collecting?

Number of pages: 19 Posted: 02 Feb 2016
Michael J. Dempsey
TDT University
Downloads 33 (451,201)

Abstract:

Loading...

corporate finance, behavoral finance, critical theory

24.

The Association between Dividend Payouts and Firm Growth in Australia: Do the Bad Apples Contaminate the Good?

31st Australasian Finance and Banking Conference 2018
Number of pages: 21 Posted: 30 Jul 2018
Michael J. Dempsey and Thanh Truong
TDT University and RMIT University
Downloads 32 (455,677)

Abstract:

Loading...

Dividend Payout, Firm Growth, P/E ratio

Discounting Methods and Personal Taxes

European Financial Management Journal, Forthcoming
Number of pages: 23 Posted: 16 Jan 2019
Michael J. Dempsey
TDT University
Downloads 10 (603,774)

Abstract:

Loading...

valuation, taxes, tax system, CAPM, WACC

Discounting Methods and Personal Taxes

European Financial Management, Vol. 25, Issue 2, pp. 310-324, 2019
Number of pages: 15 Posted: 06 Mar 2019
Michael J. Dempsey
TDT University
Downloads 0
  • Add to Cart

Abstract:

Loading...

valuation, taxes, tax system, CAPM, WACC

26.

The Cost of Equity Capital at the Corporate and Investor Levels Allowing a Rational Expectations Model with Personal Taxations

Journal of Business Finance & Accounting, Vol. 23, No. 9-10, pp. 1319-1331, 2008
Number of pages: 13 Posted: 02 Feb 2011
Michael J. Dempsey
TDT University
Downloads 5 (611,681)
  • Add to Cart

Abstract:

Loading...

cost of capital, personal taxes, dividend discount model, CAPM

27.

The Capital Asset Pricing Model (CAPM): The History of a Failed Revolutionary Idea in Finance?

Abacus, Vol. 49, pp. 7-23, 2013
Number of pages: 17 Posted: 30 Dec 2012
Michael J. Dempsey
TDT University
Downloads 2 (636,577)
  • Add to Cart

Abstract:

Loading...

CAPM, Fama and French three‐factor model, Finance models

28.

Cost of Capital Equations Under the Australian Imputation Tax System

Accounting & Finance, Vol. 48, Issue 3, pp. 439-460, September 2008
Number of pages: 22 Posted: 14 Aug 2008
Michael J. Dempsey and Graham Partington
TDT University and University of Sydney - School of Business - Finance Discipline
Downloads 2 (636,577)
  • Add to Cart

Abstract:

Loading...

29.

Consistent Cash Flow Valuation with Tax‐Deductible Debt: A Clarification

European Financial Management, Vol. 19, Issue 4, pp. 830-836, 2013
Number of pages: 7 Posted: 07 Sep 2013
Michael J. Dempsey
TDT University
Downloads 1 (649,206)
  • Add to Cart

Abstract:

Loading...

valuation techniques, growth, APV, wacc, tax‐shields

30.

Australian Superannuation (Pension) Fund Product Ratings and Performance: A Guide for Fund Managers

Australian Journal of Management, Vol. 41, No. 2, 2016
Posted: 04 May 2016
Monash University - Department of Accounting, Tribeca Investment Partners, TDT University and Monash University - Department of Accounting

Abstract:

Loading...

Morningstar Ratings, Performance, Superannuation Funds

31.

The Modigliani and Miller Propositions: The History of a Failed Foundation for Corporate Finance?

Abacus, Vol. 50, Issue 3, pp. 279-295, 2014
Number of pages: 17 Posted: 17 Sep 2014
Michael J. Dempsey
TDT University
Downloads 0 (667,153)
  • Add to Cart

Abstract:

Loading...

Capital structure, Corporate finance, Dividends, Investments, Modigliani and Miller propositions

32.

Macroeconomic Information and Implied Volatility: Evidence from Australian Index Options

Posted: 26 Aug 2013
Hassan Tanha, Michael J. Dempsey and Terrence A. Hallahan
Victoria University, TDT University and Victoria University

Abstract:

Loading...

Implied Volatility, Options, Macroeconomic Information

33.

The Controversy in Fundamental Indexation: Why Both Sides of the Argument are (Mostly) Correct

Journal of Investment Management (JOIM), Fourth Quarter 2012
Posted: 20 May 2013
Michael J. Dempsey
TDT University

Abstract:

Loading...

Fundamental indexation, market capitalization, noise