Increasing shareholder value : distribution policy, a corporate finance challenge / by Harold Bierman, Jr.

Format:

Book

Author/Creator:

Bierman, Harold.

Contributor:

Charles R. Anderson Endowment Fund.

Language:

English

Subjects (All):

Corporate profits.

Income distribution.

Investments--Valuation.

Investments.

Corporations--Finance.

Corporations.

Stockholders.

Physical Description:

151 pages ; 24 cm

Place of Publication:

Boston : Kluwer Academic, [2001]

Summary:

Corporations earn incomes and amass wealth. There are many books offering advice how to increase the profitability of corporations by achieving excellence in operations and choosing the correct strategic path. Increasing Shareholder Value: Distribution Policy, A Corporate Finance Challenge is concerned with how the corporation should reward its shareholders after the incomes are earned. Investment decisions, capital structure, and dividend policy must be coordinated so that the well being of the firm's stockholders is considered in the planning process. The corporate planners should realize that the individual investors are also making plans, and the corporation can assist this planning process by making its own financial plans and strategies well known.

Contents:

1. An Overview of Corporate Distribution Policy 1

2. Dividends Versus Retained Earnings 3

3. Dividends Versus Share Repurchase 21

4. Share Repurchase and Stock Price 43

5. Choosing Between Real Investments and Share Repurchase 67

6. The Return Earned by Share Repurchase 77

7. Share Repurchase and Earnings Per Share Buyback Parity 85

8. A Dividend Reduction Strategy 97

9. The Investor's Viewpoint 111

10. Dividend Reinvestment Plans (DRIP's) 123

11. Repurchase of Shares Accompanied by the Selling of Puts 131

12. A Ranking of Alternatives 137.

Notes:

Includes bibliographical references and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Charles R. Anderson Endowment Fund.

ISBN:

0792375173

OCLC:

47665386