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Abstract In this paper we illustrate a world with perfect capital markets and with no taxes, and show the condition under which the stockholders in a levered firm will be… Click to show full abstract
Abstract In this paper we illustrate a world with perfect capital markets and with no taxes, and show the condition under which the stockholders in a levered firm will be (un-) affected by the dividend policy. We illustrate it for a firm’s value which follows the binomial distribution.
Keywords:
levered firm;
relevance levered;
dividend policy;
policy relevance
Journal Title: Economics Letters
Year Published: 2018
Link to full text (if available)
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Journal Title: Economics Letters
Year Published: 2018
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!