Graham Partington

Photo of Graham Partington

BSc (Hons) Wales; MEc(Hons) Macq.
Associate Professor

Rm 404
H69 - Codrington Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 9036 9429
Fax +61 2 9351 6461
graham.partington@sydney.edu.au

Bio

Graham Partington joined the University of Sydney in 2002. He is also a visiting senior research fellow at Bangor University. Over the years he has designed many degree programs in finance and accounting and has taught at universities in Australia, the UK, France, and Canada. He has also developed and run some of the world's largest PhD programs in Finance and Capital Markets. He is a co-author of four textbooks, has published over thirty research papers and has won four best paper prizes. Unusually, for a finance academic, he has included two poems in his finance publications. His main research, consulting and expert witness work is in corporate finance, particularly dividend policy, valuation, capital budgeting and the cost of capital. His other research interests include rights issues, takeovers, and the prediction of financial distress.

Selected publications

2018

Journal Article

Ainsworth A, Fong K, Gallagher D, and Partington G (2018) Taxes, Order Imbalance and Abnormal Returns around the Ex-Dividend Day International Review of Finance, 18 (3), 379-409. [More Information]

2017

Reports

Partington G, and Satchell S (2017) Report to the AER: Discussion of estimates of the returns on equity.

Partington G, and Satchell S (2017) Report to the AER: Issues in re-levering beta and testing for structural breaks.

Partington G, and Satchell S (2017) Report to the AER: Discussion of submissions on the cost of equity.

2016

Journal Articles

Ainsworth A, Fong K, Gallagher D, and Partington G (2016) Institutional trading around the ex-dividend day Australian Journal of Management, 41 (2), 299-323. [More Information]

Ainsworth A, Partington G, and Warren G (2016) The impact of dividend imputation on share prices, the cost of capital and corporate behaviour JASSA, 2016 (1), 41-49. [More Information]

Pricha N, Foley S, Partington G, and Svec J (2016) Underwritten Dividend Reinvestment Plans and Conflicts of Interest Journal of Business Finance and Accounting, 43 (9 & 10), 1361-1384. [More Information]

2015

Journal Article

Kim M, and Partington G (2015) Dynamic forecasts of financial distress of Australian firms Australian Journal of Management, 40 (1), 135-160. [More Information]

2014

Journal Articles

Dang H, and Partington G (2014) Rating Migrations: The Effect of History and Time Abacus, 50 (2), 174-202. [More Information]

Jun A, and Partington G (2014) Taxes, International Clienteles and the Value of ADR Dividends Journal of Business Finance and Accounting, 41 (9-10), 1337-1360. [More Information]

2013

Journal Articles

Hodgkinson L, and Partington G (2013) Capital gains tax, managed funds and the value of dividends: The case of New Zealand The British Accounting Review, 45 (4), 271-283. [More Information]

Partington G (2013) Death Where is Thy Sting? A Response to Dempsey's Despatching of the CAPM Abacus, 49 (S1), 69-72. [More Information]

Yao J, Partington G, and Stevenson M (2013) Predicting the Directional Change in Consumer Sentiment Australian Journal of Management, 38 (1), 67-80. [More Information]

2011

Journal Article

Jun A, Gallagher D, and Partington G (2011) Institutional Dividend Clienteles Under an Imputation Tax System Journal of Business Finance and Accounting, 38 (1-2), 198-224. [More Information]

Book Chapter

Partington G (2011) Valuation and Project Selection When the Market and Face Value of Dividends Differ Asset Management: Tools and Strategies; Bloomsbury, London, 127-132.

2010

Journal Article

Dempsey M, McKenzie M, and Partington G (2010) The Problem of Pre-Tax Valuations: A Note Journal of Applied Research in Accounting and Finance, 5 (2), 10-13.

Conference Proceeding

Ainsworth A, Fong K, Gallagher D, and Partington G (2010) Taxes, Price Pressure and Order Imbalance around the Ex-Dividend Day Financial Management Association FMA Asian Conference 2010, Singapore, 16th July 2010; Financial Management Association (FMA), Florida.

2009

Journal Article

Partington G (2009) Discussion of An International Analysis of Dividend Payment Behavior Journal of Business Finance and Accounting, 36 (3-4), 523-529. [More Information]

Book Chapter

Partington G (2009) Valuation and Project Selection when the Market and Face Value of Dividends Differ Qfinance the Ultimate Resource; Bloomsbury, London, UK.

2008

Journal Articles

Chu H, and Partington G (2008) The Market Valuation of Cash Dividends: The Case of the CRA Bonus Issue International Review of Finance, 8 (1-2), 1-20.

Dempsey M, and Partington G (2008) Cost of capital equations under the Australian imputation tax system Accounting and Finance, 48 (3), 439-460. [More Information]

Hodgkinson L, and Partington G (2008) The Motivation for Takeovers in the UK Journal of Business Finance and Accounting, 35 (1-2), 102-126. [More Information]

Jun A, Alaganar V, Partington G, and Stevenson M (2008) Price and Volume Behaviour around the Ex-dividend Day: Evidence on the Value of Dividends from American Depositary Receipts and their Underlying Australian Stocks International Review of Finance, 8 (1-2), 21-55.

Truong G, and Partington G (2008) Relation between Franking Credits and the Market Risk Premium: A comment Accounting and Finance, 48 (1), 153-158. [More Information]

Truong G, Partington G, and Peat M (2008) Cost-of-Capital Estimation and Capital-Budgeting Practice in Australia Australian Journal of Management, 33 (1), 95-121. [More Information]

Conference Proceedings

Dang H, and Partington G (2008) Rating Migrations: The Effect of History and Time 6th Paris Finance International Meeting 2008; French Finance Association, France.

Dang H, and Partington G (2008) Rating Migrations: The Effect of History and Time European Financial Management Association 2008 17th Annual Meeting (EFMA 2008); European Financial Management Association, Athens, Greece.

Dang H, and Partington G (2008) Rating History and the Rating Dynamics of Fallen Angels, Rising Stars, and Big Rating Jumpers 2nd European Risk Conference 2007; European Risk Research Network (ERRN), United Kingdom.

Dang H, and Partington G (2008) Rating Migrations: The Effect of History and Time 2nd European Risk Conference 2007; European Risk Research Network (ERRN), United Kingdom.

Dang H, and Partington G (2008) Modeling Rating Migrations European Financial Management Association 2008 Annual Conference: 2008 "Merton H Miller" Doctoral Seminar; European Financial Management Association, United States.

Dang H, and Partington G (2008) Rating History and the Rating Dynamics of Fallen Angels, Rising Stars, and Big Rating Jumpers Risk Management Conference 2008; Finanza Firenze Research Centre, Florence, Italy.

Kim M, and Partington G (2008) The Dynamic Prediction of Corporate Failure 21st Australasian Finance and Banking Conference Sydney 2008; Australasian Finance and Banking Assosciation, Australia.

2007

Journal Article

Wong B, Partington G, Stevenson M, and Torbey V (2007) Surviving Chapter 11 Bankruptcies: Duration and Payoff? Abacus, 43 (3), 363-387. [More Information]

Conference Proceedings

Dang H, and Partington G (2007) Modeling Rating Migrations The 20th Australasian Finance and Banking Conference AFBC 2007; University of New South Wales, Australia.

Dang H, and Partington G (2007) Modeling Rating Migrations International Conference C.R.E.D.I.T. 2007: Credit Ratings; University Ca' Foscari of Venice, Italy.

Partington G, and Dempsey M (2007) Cost of Capital and Valuation Equations that Work for Any Tax System: Their Application under the Australian Imputation Tax System Multinational Finance Association Conference; Multinational Finance Association.

Book Chapter

Partington G (2007) Dividend Imputation Credits and Valuation Business Tax Reform: Meet the Critics; Australian Tax Research Foundation, Sydney.

2006

Journal Articles

Armitage S, Hodgkinson L, and Partington G (2006) The Market Value of UK Dividends From Shares With Differing Entitlements Journal of Business Finance and Accounting, 33 (1 & 2), 220-244. [More Information]

Partington G (2006) Discussion of Dargenidou, McLeay and Raonic Abacus, 42 (3-4), 415-425. [More Information]

Conference Proceedings

Jun A, and Partington G (2006) Taxes International Clienteles and the Value of ADR Dividends Multinational Finance Association Conference; Multinational Finance Association.

Jun A, Gallagher D, and Partington G (2006) An examination of institutional dividend clienteles: Evidence from Australian institutional portfolio holdings Accounting and Finance Association of Australia and New Zealand Conference (AFAANZ) 2006; John Wiley & Sons, online.

Partington G (2006) Dividend Imputation Credits and Valuation Australian Tax Research Foundation Conference; Australian Tax Research Foundation, Australia.

Partington G, and Stevenson S (2006) A Distress Prediction Tool, New Directions in Employment and Financial Security: Rethinking Employee Entitlements and Employee Buyouts Workplace Relations Centre and Members Equity Workshop; Members Equity Workshop.

Truong G, and Partington G (2006) The value of dividends and imputation tax credits: Tax changes and the cost of capital Accounting and Finance Association of Australia and New Zealand Conference (AFAANZ) 2006; John Wiley & Sons, online.

Yao J, Partington G, and Stevenson M (2006) Predicting the Directional Change in Consumer Sentiment 28th International Symposium on Forecasting (ISF 2008); International Institute of Forecasters, on line.

2005

Journal Article

Yao J, Partington G, and Stevenson M (2005) Run length and the predictability of stock price reversals Accounting and Finance, 45 (4), 653-671. [More Information]

Conference Proceedings

Chu H, and Partington G (2005) The Market Valuation of Cash Dividends: The Case of the CRA Bonus Issue European Financial Management Association Annual Meeting (EFMA) 2004; European Financial Management Association, European.

McAdam A, and Partington G (2005) Does the choice of share price matter when examining company takeovers? Accounting and Finance Association of Australia and New Zealand Conference AFAANZ 2005; The Accounting and Finance Association of Australia and New Zealand, Australia.

Truong G, Partington G, and Peat M (2005) Cost of Capital Estimation and Capital Budgeting Practice in Australia Accounting and Finance Association of Australia and New Zealand Conference AFAANZ 2005; The Accounting and Finance Association of Australia and New Zealand, Australia. [More Information]

2004

Conference Proceedings

Dempsey M, and Partington G (2004) The Cost of Capital Equations Under the Australian Imputation Tax System Accounting Association of Australia and New Zealand Conference; Accounting Association of Australia and New Zealand, Australia.

Jun A, Alaganar V, Partington G, and Stevenson M (2004) Price and Volume Behaviour around the Ex-dividend Day: Evidence on the Value of Dividends from ADRs and their Underlying Australian Stocks Accounting and Finance Association of Australia and New Zealand Conference (AFAANZ) 2004; The Accounting and Finance Association of Australia and New Zealand, CD-ROM - Australia.

Recent Units Taught

  • FINC6001 Intermediate Corporate Finance