09公司股利政策问题.pptVIP

学习动物精神 12、善解人意的海豚：常常问自己：我是主管该怎么办才能有助于更好的处理事情的方法。在工作上善解人意， 会减轻主管、共 事者的负担，也 让你更具人缘。 14.* 14.* Cash dividends reduce cash and retained earnings (except for liquidating dividends which may reduce paid-in capital) 14.* 14.* 14.* Assuming that the second dividend is a liquidating dividend and the firm ceases to exist after period 2. PV = 10,000 / 1.12 + 10,000 / 1.122 = 16,900.51 PV = 9000 / 1.12 + 11,120 / 1.122 = 16,900.51 14.* 14.* 14.* 14.* 14.* 14.* If a firm changes its policy, it will just have different investors. Consequently, dividend policy won’t affect the value of the stock. 14.*