Gordonsbirdinthehandargumentsuggeststhat
A. dividendsareirrelevant.
B. firmsshouldhavea100percentpayoutpolicy.
C. shareholdersaregenerallyriskaverseandattachlessrisktocurrentdividends.
D. themarketvalueofthefirmisunaffectedbydividendpolicy.
Answer:C
Gordonsbirdinthehandargumentsuggeststhat
A. dividendsareirrelevant. B. firmsshouldhavea100percentpayoutpolicy. C. shareholdersaregenerallyriskaverseandattachlessrisktocurrentdividends. D. themarketvalueofthefirmisunaffectedbydividendpolicy.