According to the bird-in-the-hand argument, current dividend payments reduce investor uncertainty and result in a higher value for a firm's stock.

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The bird-in-the-hand argument suggests that investors prefer current dividend payments over potential future capital gains because the former reduces uncertainty about receiving returns. This reduction in uncertainty can improve the perceived value of the company's stock, making it more attractive to investors.

According to the Bird-In-The-Hand Argument, Current Dividend Payments Reduce Investor