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inkster inkster
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A month ago
The "bird in the hand" argument is based on the argument that

▸ capital gains are preferred to dividends.

▸ dividends and capital gains are perfect substitutes.

▸ dividends are preferred to capital gains.

▸ investors don't value dividends, hence dividends are irrelevant.
Textbook 
Corporate Finance

Corporate Finance


Edition: 5th
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andre9119andre9119
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A month ago
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inkster Author
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A month ago
this is exactly what I needed
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Thank you, thank you, thank you!
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2 hours ago
Thanks for your help!!
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