Navigate to the threaded discussion and respond to the following prompts:

Stock Valuation: How does the value of a share of stock depend on dividends?

Dividend Policy: A substantial percentage of the companies listed on the NYSE and NASDAQ dont pay dividends, but investors are nonetheless willing to buy shares in them. How is this possible, given your previous answer?

Your discussion should be based on the chapter (with special consideration to the concept of Cash Flows) as well as other resources that can contribute to the discussion.

Your initial post should be 150 to 300 words in length and include at least one academic source that is properly cited.