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According to the Modigliani and Miller dividend theorem __________________. Dividends are irrelevant to firm value. Dividend paying firms are more valuable than non-dividend paying firms.
According to the Modigliani and Miller dividend theorem __________________.
Dividends are irrelevant to firm value. | ||
Dividend paying firms are more valuable than non-dividend paying firms. | ||
Dividend paying firms are less valuable than non-dividend paying firm. | ||
None of the above. |
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