Question: 4. This question has two parts: a. Write down the different theories on the payout policy. Elaborate which of the theories are more closely related

4. This question has two parts: a. Write down the different theories on the payout policy. Elaborate which of the theories are more closely related to the reality. Answer by relating a few journal articles. b. Explain the different types of takeovers. List the different merger currencies and explain their determinants.

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