An analysis of capital raising by Australian listed firms : The factors that drive the choice of type of security and issue method

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Firstly, this study will guide the setting of stock exchange listing rules and tax legislation by providing an analysis of how changes in listing rules and the tax treatment of debt and equity issues affect firms' choice of security and distribution method. Second, the focus on capital raising in international markets will assist corporate treasurers in determining the location of their financing and has implications for macro economic policy through the influence on capital flows and the balance of payments. Third, the integrated model of financing decisions will assist firms, their advisors and capital providers in financing and investment activities.