Session 24 (Undergraduate): The Trade off on Dividends
Published: 26.04.2016
Category: Investing and finance
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Episode description
We spent all of the session setting up the trade off on dividends, starting with the argument that Miller/Modigliani made that dividends don't matter (in a world where investors are taxed at the same rate on dividends & capital gains & stock issuance is costless) to the dividends are bad school (built on the almost century long higher tax on dividends) to the dividends are good school. Slides: http://www.stern.nyu.edu/~adamodar/podcasts/cfUGspr16/Session24.pdf Post class test: http://www.stern.nyu.edu/~adamodar/pdfiles/cfovhds/postclass/session24atest.pdf Post class test solution: http://www.stern.nyu.edu/~adamodar/pdfiles/cfovhds/postclass/session24asoln.pdf
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