Suppose you are a manager who wants to retain as much as possible of the firms earnings
Question:
Suppose you are a manager who wants to retain as much as possible of the firm’s earnings in order to increase the size of the firm. How would you react to proposals to repurchase shares that would make it less costly to distribute cash to shareholders?
How does your reaction relate to your answer in exercise 15.1?
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Related Book For 
Financial Markets And Corporate Strategy
ISBN: 9780077119027
1st Edition
Authors: David Hillier, Mark Grinblatt, Sheridan Titman
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