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Hi Professor I am not able to understand the follwing. Can you explain it pls. The 'Dividend Irrelevance Theory' says that a firm's dividend policy

Hi Professor

I am not able to understand the follwing. Can you explain it pls.

The 'Dividend Irrelevance Theory' says that a firm's dividend policy has no effect on either its value or its cost of capital. Make a brief assessment of the theory by clearly stating its assumptions and their validity in the real world.

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