15.5. Suppose you are a manager who wants to retain as much as possible of the firms...

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15.5. 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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Financial Markets And Corporate Strategy

ISBN: 9780071157612

2nd Edition

Authors: Mark Grinblatt, Sheridan Titman

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