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Underlying the dividend irrelevance theory proposed by Miller and Modigliani is their argument that the value of the firm is determined only by its basic earning power and its business risk.
Compliance Programs
are structured plans implemented by organizations to ensure adherence to legal statutes, regulations, and internal policies.
Formal Ethics
The explicitly stated moral rules and principles that govern behaviors within an organization or society.
Ethical Misconduct
Behaviors or actions that go against moral principles and professional standards.
Personal Preference
An individual's inclination or liking for specific choices or options over others.
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