6. Dividend Irrelevance Theory

  1. H. Kent Baker
  1. James S. Ang1 and
  2. Stephen J. Ciccone2

Published Online: 29 NOV 2011

DOI: 10.1002/9781118258408.ch6

Dividends and Dividend Policy

Dividends and Dividend Policy

How to Cite

Baker, H. K. (2009) Dividend Irrelevance Theory, in Dividends and Dividend Policy, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118258408.ch6

Author Information

  1. 1

    Bank of America Eminent Scholar and Professor of Finance, Florida State University

  2. 2

    Associate Professor of Finance, University of New Hampshire

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 20 APR 2009

ISBN Information

Print ISBN: 9780470455807

Online ISBN: 9781118258408

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Keywords:

  • firm valuation model;
  • capital structure;
  • financial theory;
  • balance sheet equation;
  • investment decision

Summary

This chapter contains sections titled:

  • Introduction

  • Theories Before Irrelevance

  • MM's Dividend Irrelevance

  • The Impact of Market Imperfections

  • Recent Challenges to Irrelevance

  • Conclusions

  • About the Authors