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Hello SIr, kindly help me fix a glitch in my concept.
According to the detail MArch July 2020 commentary, Examiner says we should not have discussed M&M irrelevancy theory as the co is LISTED so can you pleeeaaase clear if i’ve missed this point in lectures that this particular theory doesnt apply to listed companies??The commentary does not say that dividend irrelevancy should not have been discussed. He says that it is only of marginal interest and that more important were the clientele effect, the signalising effect, and shareholders liquidity preference.
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