Corporate Finance: Instructor\'s Manual Applied Corporate Finance
amelia
(Amelia)
2019-07-28 06:47:34 UTC
#1
Aswath Damodaran 436
The Cost of Raising Capital
If a small firm has excess cash and is uncertain about its future investment
needs, it is prudent to hold the cash rather than return it to its stockholders.
Larger firms with more access to capital markets should be more inclined to use
the cash to buy back stock.
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