QUESTION 14 2 points Save Answer The clientele effect maintains that many investors choose stocks at least in part for dividend policy, so any change in payments is disruptive, because it represents: O a change away from something they like about the firm, b. something new about which they are uncertain. crisk, to which investors are generally averse. d uncertainty in the treatment of capital gains ce 2, QUESTION 15 2 points Save Answer es: da tion The purpose of a stock dividend is to: ou avoid the taxes associated with a stock repurchase plan. b. send a positive signal when the firm can't afford to give stockholders cash. c. keep the price in a trading range so it's accessible to small investors. d immediately increase shareholder wealth