Which of the following factors is not identified as an explanation for dividend policy differences around the world in the study by Rafeal La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W.Vishny?
A) measures that help protect the minority right of shareholders.
B) growth opportunities.
C) risk associated with expected future dividends.
D) number of shares outstanding.
E) all of the above influence dividend policy differences around the world.
Correct Answer:
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