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Lease, Ronald C., John Kose, Avner Kalay, Uri Loewenstein and Oded H. Sarig, Dividend Policy : Its Impact on Firm Value, Harvard Business School Press, Boston, USA, pp. 219, US$ 35/
One of the most important decisions that finance managers take includes dividend decisions. The dividend decision, determined by a firm's dividend policy, affects the level of equity retained in the firm. Financial Managers are very careful in handling the choice of dividend policy of the company as dividends not only influences the value of the firm but more importantly the wealth of their shareholders.
The book under review divided into eleven chapters basically aims at review of the theory and empirical evidence regarding the impact of the dividend policy on shareholders wealth.
Authors in a simple...