Risky companies tend to have lower target payout ratios and more gradual adjustment rates. Explain what is
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“Risky companies tend to have lower target payout ratios and more gradual adjustment rates.” Explain what is meant by this statement. Why do you think it is so?
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The available evidence is consistent with the observation that managers ...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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