Title

The Influence Of Dividends, Growth, And Leverage On Share Prices In The Electric Utility Industry - An Econometric Study

Comments

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Abbreviated Journal Title

J. Financ. Quant. Anal.

Keywords

Business; Finance; Economics

Abstract

During the past 20 years several theoretical valuation models with empirically testable implications regarding the impact of financial decisions, particularly debt policy and dividend policy, have appeared in the financial literature. Some of these models have been subjected to extensive testing. However, results of these investigations are inconclusive and/or conflicting as to the impact of financial policies on share value. For instance, on the basis of a study of electric utility firms, Miller and Modigliani (M&M) find that neither dividend nor debt policies of the firm affect the value of the firm. On the other hand, Weston, as well as Brigham and Gordon, disagree with M&M's findings based upon their own investigations of electric utility firms.

Journal Title

Journal of Financial and Quantitative Analysis

Volume

15

Issue/Number

5

Publication Date

1-1-1980

Document Type

Article

Language

English

First Page

1163

Last Page

1196

WOS Identifier

WOS:A1980LB21400010

ISSN

0022-1090

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