The ability of shareholders to undo the dividend policy of the firm and create an alternative dividend payment policy via reinvesting dividends or selling shares of stock is called a:

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The ability of shareholders to undo the dividend policy of the firm and create an alternative dividend payment policy by reinvesting dividends or selling shares of stock is called a homemade dividend policy. This means that shareholders can create their own desired dividend payout policy by reinvesting the dividends or selling shares of the stock, which can be different from the firm's original policy.

The Ability of Shareholders to Undo the Dividend Policy of the Firm