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So if we have a tobin's q greater than 1 (vs. less than one), should the firm use retained earnings to do share buyback or

So if we have a tobin's q greater than 1 (vs. less than one), should the firm use retained earnings to do share buyback or just pay out dividends? Show the reasoning when to give out dividends or when to do share buyback, depending on tobin's q.

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