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What clientele (type) of investors would generally prefer a high dividend paying stock? Given this clientele effect, is it generally advisable for a firm to
What clientele (type) of investors would generally prefer a high dividend paying stock? Given this clientele effect, is it generally advisable for a firm to change its dividend policy (i.e switch from back & forth between high to low dividend paying policy)? If there were no transaction costs, would the clientele effect be more significant or less significant?
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