In the 2005 follow-up to the Lintner study, the researchers found that managers choose their firm's dividend policies in a way that enables them to continue making the investments necessary for the firm to complete in its product markets. What does this imply about a firm that operates in a low-growth industry?

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The Answer of In the 2005 follow-up to the Lintner study, the researchers found that managers choose their firm's dividend policies in a way that enables them to continue making the investments necessary for the firm to complete in its product markets. What does this imply about a firm that operates in a low-growth industry?

In the 2005 Follow-Up to the Lintner Study, the Researchers