CHAPTER 16
1. Alexander A. Robichek, ed., Financial Research and Management Decisions (New York: Wiley, 1967), p. 67.
2. The value of a firm is a function of the expected growth in the firm's operating income.
3. Stephen W. Pruitt and Lawrence J. Gitman, “The Interactions between the Investment, Financing, and Dividend Decisions of Major U.S. Firms,” The Financial Review 26, III (1991): pp. 409–430.
4. In 2002, Microsoft was the only company in the DOW 30 Index that had not paid a dividend. In 2003, it announced its first dividend payout to its shareholders.
5. High-value firms with low payout will plough back large amounts of net profits, enabling the equity value to rise. Increasing equity value provides capital gain to investors.
6. Amendments ...
Get Financial Management now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
