Dividends, taxes and investor clienteles
This thesis explores two facets of the Miller-Modigliani theorem; dividend irrelevance and value additivity. We explore these concepts in the capital market using a derivative asset recently introduced and a Black-Scholes option pricing model modified for different marginal tax rates. This technolog...
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| Language: | English |
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University of British Columbia
2010
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| Online Access: | http://hdl.handle.net/2429/27695 |