Michael J. Dempsey

Ton Duc Thang University (TDTU)

District 7

Ho Chi Minh City, 3001

Vietnam

SCHOLARLY PAPERS

34

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18

CROSSREF CITATIONS

19

Scholarly Papers (34)

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
Ton Duc Thang University (TDTU)
Downloads 1,721 (17,860)
Citation 11

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

2.

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
Ton Duc Thang University (TDTU)
Downloads 1,277 (27,987)
Citation 5

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

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

Number of pages: 39 Posted: 31 Jan 2003
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 1,272 (27,685)
Citation 3

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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?

Posted: 31 Jan 2003
Michael J. Dempsey
Ton Duc Thang University (TDTU)

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

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 Business School, La Trobe University, La Trobe University - Graduate School of Management and Ton Duc Thang University (TDTU)
Downloads 691 (65,621)

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

Number of pages: 25 Posted: 06 Dec 2002
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 613 (75,422)

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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
Ton Duc Thang University (TDTU)

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

6.

The Fama and French Three-Factor Model and Leverage: Compatibility with the Modigliani and Miller Propositions

Number of pages: 16 Posted: 27 Feb 2009
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 571 (83,394)
Citation 1

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

7.

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
Ton Duc Thang University (TDTU), The University of Sydney - Discipline of Finance and University of Sydney - School of Business - Finance Discipline
Downloads 299 (175,377)
Citation 1

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Financial Reporting, Discount Rates

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

Number of pages: 28 Posted: 31 Jan 2003
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 285 (183,386)
Citation 1

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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
Ton Duc Thang University (TDTU)

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

The Nature of Market Growth, Risk and Return

Number of pages: 38 Posted: 20 Nov 2002
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 259 (202,112)

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

The Nature of Market Growth, Risk and Return

Posted: 11 Nov 2002
Michael J. Dempsey
Ton Duc Thang University (TDTU)

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

10.

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
Ton Duc Thang University (TDTU)
Downloads 253 (207,816)

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

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
Ton Duc Thang University (TDTU)
Downloads 243 (216,167)
Citation 1

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

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

Number of pages: 9 Posted: 06 Dec 2002
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 233 (224,419)

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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

Posted: 06 Dec 2002
Michael J. Dempsey
Ton Duc Thang University (TDTU)

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

13.

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
Royal Melbourne Institute of Technolog (RMIT University), Ton Duc Thang University (TDTU) and RMIT University
Downloads 210 (248,384)

Abstract:

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

14.

The CAPM: A Case of Elegance is for Tailors?

Number of pages: 8 Posted: 05 Jun 2013
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 205 (253,872)

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asset pricing, CAPM, Fama and French three factor model

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, Ton Duc Thang University (TDTU) and Monash University - Department of Banking & Finance
Downloads 133 (365,990)
Citation 1

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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 Business School, La Trobe University and Ton Duc Thang University (TDTU)
Downloads 128 (376,781)

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corporate takeovers, takeover predictability, Palepu model

17.

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
Ton Duc Thang University (TDTU) and The University of Western Australia - UWA Business School
Downloads 127 (378,982)

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

18.

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 Ton Duc Thang University (TDTU)
Downloads 106 (432,590)

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Diversification; Australian banks; Bank performance; Market performance

19.

Investment in Cryptocurrencies: A Perspective from Asset Pricing and Portfolio Theory

Number of pages: 20 Posted: 16 Feb 2021 Last Revised: 26 Apr 2021
Michael J. Dempsey, Huy Nguyen Anh Pham and Vikash Ramiah
Ton Duc Thang University (TDTU), Royal Melbourne Institute of Technolog (RMIT University) and University of Wollongong
Downloads 105 (435,523)

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cryptocurrencies, portfolio theory, asset pricing

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 and Ton Duc Thang University (TDTU)
Downloads 99 (453,763)

Abstract:

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Cost of Equity, Defensive Industries, Constant Beta

21.

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

Number of pages: 24 Posted: 27 Jun 2011
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 96 (463,055)

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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
Ton Duc Thang University (TDTU) and Royal Melbourne Institute of Technolog (RMIT University)
Downloads 67 (580,702)

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Dividend Payout, Firm Growth, P/E ratio

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

2015 Financial Markets & Corporate Governance Conference
Number of pages: 29 Posted: 04 Jan 2015
Michael J. Dempsey and Thanh Truong
Ton Duc Thang University (TDTU) and Royal Melbourne Institute of Technolog (RMIT University)
Downloads 26 (852,989)

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dividends, P/E, firm performance

23.

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
Ton Duc Thang University (TDTU), Monash University and Monash University
Downloads 86 (496,268)
Citation 2

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

24.

The Association between Dividend Payouts and Firm Growth: Australian Evidence

Number of pages: 43 Posted: 16 Feb 2021
Michael J. Dempsey, Abey Gunasekarage and Thanh Truong
Ton Duc Thang University (TDTU), Monash University and Royal Melbourne Institute of Technolog (RMIT University)
Downloads 70 (559,019)
Citation 1

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Dividends, Firm growth, Dividend payout, Boston Consulting Group (BCG), matrix firm cycle

25.

Investors’ Rights Protection and Firm Liquidity: Evidences from Hong Kong

22nd Australasian Finance and Banking Conference 2009
Posted: 24 Aug 2009
Xiaofeng Shi, Michael J. Dempsey, Huu Nhan Duong and Petko S. Kalev
Monash University - Department of Accounting, Ton Duc Thang University (TDTU), Monash University - Department of Banking and Finance and RoZetta Institute
Downloads 67 (572,273)

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Corporate Governance, Investors’ rights protection, liquidity

26.

Stock Market Volatility: Friend or Foe?

Accounting and Finance (2020, vol. 60 (4), p. 3477-3492)
Number of pages: 26 Posted: 16 Feb 2021 Last Revised: 26 Apr 2021
Michael J. Dempsey, Abey Gunasekarage and Thanh Truong
Ton Duc Thang University (TDTU), Monash University and Royal Melbourne Institute of Technolog (RMIT University)
Downloads 63 (590,392)

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Investment horizon, Market return, Market; Risk, Stock performance, Volatility

27.

Academic Finance: Responsible Enquiry or Stamp Collecting?

Number of pages: 19 Posted: 02 Feb 2016
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 52 (647,213)

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corporate finance, behavoral finance, critical theory

28.

Discounting Methods and Personal Taxes

Number of pages: 23 Posted: 16 Jan 2019 Last Revised: 16 Feb 2021
Michael J. Dempsey
Ton Duc Thang University (TDTU)
Downloads 42 (707,355)

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valuation, taxes, tax system, CAPM, WACC

29.

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
Jain Global Management School, Ton Duc Thang University (TDTU) and University of Auckland Business School
Downloads 41 (714,118)
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dividend policy; dividend reinvestment plan; imputation; franking credits; taxes

30.

Do Special Dividends Convey Information?

2015 Financial Markets & Corporate Governance Conference
Number of pages: 25 Posted: 13 Feb 2015
Balasingham Balachandran, Michael J. Dempsey and Manali Mahamuni
La Trobe Business School, La Trobe University, Ton Duc Thang University (TDTU) and La Trobe University
Downloads 28 (810,866)

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special dividend, partial imputation tax system, free cash flow, operating performance, signaling

31.

Industry Cost of Equity: A New Approach

Number of pages: 32 Posted: 18 Aug 2013
Omar Gharaibeh, Graham N. Bornholt and Michael J. Dempsey
Griffith University - Griffith Business School, Griffith University and Ton Duc Thang University (TDTU)
Downloads 24 (845,027)

Abstract:

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32.

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, Ton Duc Thang University (TDTU) and Monash University - Department of Accounting

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Morningstar Ratings, Performance, Superannuation Funds

33.

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, Ton Duc Thang University (TDTU) and Victoria University

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Implied Volatility, Options, Macroeconomic Information

34.

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
Ton Duc Thang University (TDTU)

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Fundamental indexation, market capitalization, noise