Which of the Following Is Not Found in John Lintner's

question 27

Multiple Choice

Which of the following is not found in John Lintner's "stylized facts" of corporate dividend policies?

• A)Firms have long-run target dividend payout ratios
• B)Managers focus more on dividend absolute levels than on its changes
• C)Dividend changes follow shifts in long-run, sustainable levels of earnings rather than short-run changes in earnings
• D)Managers are reluctant to make dividend changes that might have to be reversed

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