max EPS Payout Policy
收藏NBER2026-03-01 更新2026-03-28 收录
下载链接：
https://www.nber.org/papers/w34960
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资源简介：
Holding cash has a cost. For an EPS-maximizing CEO, that cost equals her firms earnings yield. EPS maximizers retain cash when they can get an even higher yield by investing the money. Otherwise, they return cash to shareholders. This is the EPS-maximizing payout policy. Growth stocks (EY < rf)
提供机构：
美国国家经济研究局
创建时间：
2026-03-01
