Modigiliani (1961) prove that dividend policy is irrelevant to share value in perfect and efficient capital markets. In this setup‚ no rational investor has a preference between dividends and capital gains. However‚ dividend payout policy is still discussed extensively until now. In this proposal‚ I use a sample of companies from 33 countries around the world to shed light on the relationship among legal origin‚ insider holdings‚ corporate governance‚ and dividend payout policy. This idea mainly comes
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2010 International Conference on Economics‚ Business and Management IPEDR vol.2 (2011) © (2011) IAC S IT Press‚ Manila‚ Philippines Business Strategies for the Indian Cement Industry A Business Intelligence and Analytical Perspective for the 21st Century Roshan Shankar Division of Computer Engineering Netaji Subhas Institute of Technology‚ University of Delhi New Delhi roshankar@gmail.com Udit Agarwal Division of Instrumentation and Control Engineering Netaji Subhas Institute of Technology
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objective is to acquire a high growth player in the cement industry. J K Cement offers an opportunity to consolidate the current UltraTech into a single‚ more successful‚ brand. Ultratech offers a sophisticated and industry leading cost leadership‚ access to customers‚ and distribution channels. An acquisition of Shree cement would plug the J K Cement products with UltraTech. This could lead to strong synergy through the coupling of the J K Cement rapid growth and UltraTech efficient distribution and
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Impact of Dividend Policy on Shareholders’ Wealth of Selected Major Pharmaceutical Units in India CHAPTER IV ANALYSIS OF DIVIDEND PAY OUT TREND 4.1 Introduction Dividend policy has been a concern of significance in financial literature since inception of Joint Stock Companies. Dividends are commonly defined as the distribution of earnings (past or present) in real assets among the shareholders of the firm in proportion to their ownership.xxxix Dividend policy connotes to the payout policy‚ which
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CHAPTER 14: DISTRIBUTIONS TO SHAREHOLDERS: DIVIDENDS AND SHARE REPURCHASES 1. The optimal distribution policy strikes that balance between current dividends and capital gains that maximizes the firm’s stock price. a. True b. False ANSWER: True 2. Other things held constant‚ the higher a firm’s target payout ratio‚ the higher its expected growth rate should be. a. True b. False ANSWER: False RATIONALE: The higher the payout ratio‚ the less of its earnings the firm reinvests in the business
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| |1 |Abstract | |2 |Introduction | |3 |Structure of the Indian Cement Industry | |4 |Liberalization | |5 |Phases of Growth |
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GLANCE Name : NEW KISHAN CEMENT PVT LTD. Registered Office : Gandhi Chambers‚ Gondal Road‚ Rajkot - 360 002 Gujarat. Year of Establishment : 1997 Form of Organization : Private Limited Company Size of the Unit : Small Scale Unit Auditors : H. Jamnadas & co.‚ Rajkot. Main Product : Ordinary Potland Cement Working Hours : 1) 8:00 am to 8:00 pm
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SHAREHOLDERS: DIVIDENDS AND SHARE REPURCHASES (Difficulty: E = Easy‚ M = Medium‚ and T = Tough) Multiple Choice: Conceptual Easy: Dividends versus capital gains Answer: d Diff: E [i]. Myron Gordon and John Lintner believe that the required return on equity increases as the dividend payout ratio is decreased. Their argument is based on the assumption that a. Investors are indifferent between dividends and capital gains. b. Investors require that the dividend yield and
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Plan of Maple Leaf Cement Muhammad Abrar Naeem ID # 081134-061 Date: 25-11-08 Marketing Plan of Maple Leaf Cement Company Introduction The Kohinoor Maple Leaf is a reputable and leading manufacturer of textiles and cement. KMLG comprises of Kohinoor Textile Mills Limited (KTML) and Maple Leaf Cement Factory Limited (MLCF). Both companies are incorporated in Pakistan and are listed on three stock exchanges if the country. Maple Leaf Cement is the third largest cement factory in Pakistan
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statements about dividend policies is CORRECT? a. Modigliani and Miller argue that investors prefer dividends to capital gains because dividends are more certain than capital gains. They call this the ―bird-in-the hand‖ effect. b. One reason that companies tend to avoid stock repurchases is that dividend payments are taxed at a lower rate than gains on stock repurchases. c. One advantage of dividend reinvestment plans is that they allow shareholders to avoid paying taxes on the dividends that they
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