Question: You have accumulated stock in a firm that does not pay cash dividends. You have read that, according to Modigliani and Miller, you can create

You have accumulated stock in a firm that does not pay cash dividends. You have read that, according to Modigliani and Miller, you can create a “homemade” should you require cash. Discuss why this choice may not be very good for the value of your position.

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