Question: For initial public offerings of common stock, 2013 was an average year, with about $38.75 billion raised by the process. Relatively few of the 157

For initial public offerings of common stock, 2013 was an average year, with about $38.75 billion raised by the process. Relatively few of the 157 firms involved paid cash dividends. Why do you think that most chose not to pay cash dividends?

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