Lecture Financial markets and institutions (4/e) – Chapter 17
Lecture Financial markets and institutions (4/e) – Chapter 17
After studying chapter 17, you should be able to: Understand the dividend retention versus distribution dilemma faced by the firm, explain the Modigliani and Miller (M&M) argument that dividends are irrelevant, explain the counterarguments to M&M – that dividends do matter, identify and discuss the factors affecting a firm’s dividend and retention of earnings policy,...