Corporate Financial

Policies
3.3 Equity Capital and Dividend Policies
3.3.1 Internal Financing: Reinvesting Cash Flow
 Reinvested Cash Flow And the Value of Equity
 Internal Financing and Value Creation
 Internal Financing and Taxation
 Internal Financing and the Various Stakeholders
 Shareholders and Lenders
 Shareholders and Managers
 Internal Financing and Return Criteria
 Internal Financing and Organic Growth
 Models of Internal Growth
 Additional Analysis
3.3.2 Returning Cash to Shareholders: Dividend Policies
 Dividends and Market Value
 Dividend and Equilibrium Markets
 Dividends as Signal
 Dividends and Agency Theory
 Because Shareholders Wish it
 Dividends Distribution in Practice
 Payout Ratio and Dividend Growth Rate
 How Dividends are paid
 Share Buybacks and Capital Reduction
 Description
 Theoretical Analysis
 The Impact on the Company and Its Ratios
 Tax Issues
 The Choice Between Dividends , Share Buybacks and Capital
 Reduction
 Flexibility
 Signalling
 Impact on the Shareholders' Structure
3.4. Financing the Global Firm