Financial Management

  1. Dividend Policy
    1. Dividend Policy Fundamentals
      1. Dividend Decision Process
        1. Types of Dividend Policies
          1. Constant Payout Ratio
            1. Constant Dollar Dividend
              1. Low Regular Plus Extra
                1. Residual Dividend Policy
              2. Dividend Theory
                1. Dividend Irrelevance Theory
                  1. Modigliani-Miller Assumptions
                    1. Homemade Dividends
                    2. Dividend Relevance Theories
                      1. Bird-in-the-Hand Theory
                        1. Tax Preference Theory
                          1. Signaling Theory
                            1. Agency Theory
                              1. Clientele Effect
                            2. Factors Influencing Dividend Policy
                              1. Contractual Constraints
                                1. Debt Covenants
                                  1. Preferred Stock Provisions
                                  2. Internal Constraints
                                    1. Cash Position
                                      1. Liquidity Requirements
                                      2. Growth Opportunities
                                        1. Investment Opportunities
                                          1. Financing Needs
                                          2. Shareholder Considerations
                                            1. Tax Status
                                              1. Income Needs
                                                1. Control Concerns
                                                2. Market Factors
                                                  1. Signaling Effects
                                                    1. Market Expectations
                                                  2. Dividend Payment Procedures
                                                    1. Key Dates
                                                      1. Declaration Date
                                                        1. Ex-Dividend Date
                                                          1. Record Date
                                                            1. Payment Date
                                                            2. Dividend Payment Process
                                                            3. Types of Dividends
                                                              1. Cash Dividends
                                                                1. Regular Dividends
                                                                  1. Special Dividends
                                                                    1. Liquidating Dividends
                                                                    2. Stock Dividends
                                                                      1. Small Stock Dividends
                                                                        1. Large Stock Dividends
                                                                          1. Accounting Treatment
                                                                          2. Property Dividends
                                                                            1. Non-Cash Distributions
                                                                          3. Stock Splits
                                                                            1. Stock Split Mechanics
                                                                              1. Stock Split Rationale
                                                                                1. Market Reaction
                                                                                  1. Reverse Stock Splits
                                                                                  2. Share Repurchases
                                                                                    1. Repurchase Methods
                                                                                      1. Open Market Repurchases
                                                                                        1. Tender Offers
                                                                                          1. Dutch Auction
                                                                                            1. Private Negotiations
                                                                                            2. Reasons for Repurchases
                                                                                              1. Excess Cash Distribution
                                                                                                1. Signal Undervaluation
                                                                                                  1. Increase Financial Leverage
                                                                                                    1. Offset Dilution
                                                                                                    2. Tax Considerations
                                                                                                      1. Market Effects

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                                                                                                    9. Capital Structure and Leverage

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                                                                                                    11. Working Capital Management