Gordon's "bird-in-the-hand" argument suggests that dividends are irrelevant. firms should have a 100 percent payout...
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Accounting
Gordon's "bird-in-the-hand" argument suggests that
dividends are irrelevant.
firms should have a 100 percent payout policy.
shareholders are generally risk averse and attach less risk to current dividends.
the market value of the firm is unaffected by dividend policy.
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