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1.) Some companies are being rewarded with higher stock prices without a need to pay a dividend or repurchase stock, just by reinvesting their profit

1.) Some companies are being rewarded with higher stock prices without a need to pay a dividend or repurchase stock, just by reinvesting their profit back in their business, how can you explain this? (Use Amazon (cost of capital vs returns of a project) as an example.)

2.) In some cases, a corrupt manager can take advantage of a share-buyback, Explain how this works. Then create a simple example showing how.

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