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Agency costs provide justification for: - issuing shares rather than repurchasing shares. - stock splits rather than stock repurchases - higher dividends over lower dividends.

Agency costs provide justification for:

- issuing shares rather than repurchasing shares.

- stock splits rather than stock repurchases

- higher dividends over lower dividends.

- stock dividends over cash dividends.

- stock repurchases over cash dividends.

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