Abstract

https://ssrn.com/abstract=2805748
 


 



Stapled Securities: Antipodean Anomaly or Adaptable Innovation?


Kevin Thomas Davis


University of Melbourne - Department of Finance; Australian Centre for Financial Studies

April 18, 2016

(2016) 31 AUSTRALIAN TAX FORUM

Abstract:     
The issuing of stapled securities (such as a unit in a trust and a share in a company) which cannot be traded separately occurs relatively frequently in Australia but is not common elsewhere. This article outlines the features and use of stapled security structures and examines explanations for their popularity in Australia, such as tax, behavioural finance, and governance aspects. It considers the use of such structures, and regulatory impediments, in other economies.

Number of Pages in PDF File: 23


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Date posted: July 7, 2016  

Suggested Citation

Davis, Kevin Thomas, Stapled Securities: Antipodean Anomaly or Adaptable Innovation? (April 18, 2016). (2016) 31 AUSTRALIAN TAX FORUM . Available at SSRN: https://ssrn.com/abstract=2805748

Contact Information

Kevin Thomas Davis (Contact Author)
University of Melbourne - Department of Finance ( email )
Faculty of Business and Economics
Parkville, Victoria 3010 3010
Australia
+613 8344 5098 (Phone)
+613 8344 6914 (Fax)
Australian Centre for Financial Studies ( email )
Level 46, 525 Collins St
Melbourne, Victoria 3079
Australia
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