Diedrich, Ralf; Dierkes, Stefan; Sümpelmann, Johannes - In: Journal of Business Finance & Accounting 50 (2022) 7-8, pp. 1502-1524
We derive a consistent valuation approach that integrates the interdependent effects of cash dividends, share … predetermined proportion of the flow to equity is used for share repurchases instead of cash dividends. Additionally, we examine the … simulations to investigate the valuation differences caused by the distribution of excess cash via cash dividends or share …