Explain why, in the absence of personal taxes, there is an equivalence between dividends and share repurchases

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Explain why, in the absence of personal taxes, there is an equivalence between dividends and share repurchases and why tax-paying investors prefer a share repurchase to a dividend payment.

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Financial Markets And Corporate Strategy

ISBN: 9780077119027

1st Edition

Authors: David Hillier, Mark Grinblatt, Sheridan Titman

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Question Posted: Jul 15, 2024 10:13 AM

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Explain why, in the absence of personal taxes, there is an equivalence between dividends and share repurchases

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Financial Markets And Corporate Strategy

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