DIVIDEND POLICY THEORIES AND THEIR EMPIRICAL TESTS - Seminar Topics - Gross Archive

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ABSTRACT
The literature on dividend policy has produced a large body of theoretical and empirical research, especially following the publication of the dividend irrelevance hypothesis of miller and Modigliani (1961). No general consensus has yet emerged after several decades of investigation, and scholars can often disagree even about the same empirical evidence.
The purpose of this paper is to review the main theories and method of analysis employed.

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