Q 20.28. In an efficient market, when should the stock price react to the value consequences...

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Q 20.28. In an efficient market, when should the stock price react to the value consequences of a dividend change? Discuss the effect both on the total return and on the capital gain. Which should be larger? Q 20.28. In an efficient market, when should the stock price react to the value consequences of a dividend change? Discuss the effect both on the total return and on the capital gain. Which should be larger?

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