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QUESTION THREE (a) Explain (both) and contrast The Fundamental Theory of Share Value and The Dividend Irrelevance Theory as proposed by Modigliani and Miller (15

QUESTION THREE (a) Explain (both) and contrast The Fundamental Theory of Share Value and The Dividend Irrelevance Theory as proposed by Modigliani and Miller (15 marks) (b) Outline in detail the meaning and significance of the following terms. ( The efficient market hypothesis. (1) Co-efficient of Correlation of an Investment Portfolio (10 marks) Total (25 marks)

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