We are stymied, however, by the Modigliani-Miller dividend irrelevancy propo sition: anything short of a dividend forecast over an infinite horizon is meaningless. This problem has been labeled by Penman (1992) as "the dividend conundrum."
We are stymied, however, by the Modigliani-Miller dividend irrelevancy propo sition: anything short of a dividend forecast over an infinite horizon is meaningless. This problem has been labeled by Penman (1992) as "the dividend conundrum."