A translation of Merton millers presentation on "Can
management use Dividends to Influence the Value of the Firm?"
into farsi is provided by mohammad ismael fadai nejad
presentation was originally made at a seminar on current
management issues which was held in Stockholm in 1981. Miller
argued that the dividend policy may not be an effective tool for
enhancing value of the firm. The real factors are those which deal
with product design, production, personnel, marketing, and
research and development. The financial side of the enterprise
can only be a supplementary part to the production and
marketing activities of the firm.
)