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wrote...
Posts: 176
2 weeks ago
Share repurchases have a tax advantage over dividends because

▸ capital gains can be deferred by long-term investors.

▸ share repurchases increase the value of debt.

▸ repurchases are associated with increased customer loyalty.

▸ dividend payments are tax deductible.
Textbook 
Fundamentals of Corporate Finance
Edition: 2nd
Authors:
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2 weeks ago
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capital gains can be deferred by long-term investors.
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