1. What are the dividend targets that different U.S. corporations seem to try to peg? If you cannot ask the executives, can you learn from the behavior of the firm what they peg their dividend targets to?
2. How do managers view dividends and share repurchases differently? Which do they seem to prefer?
3. What is the survey evidence that there is an agency conflict between shareholders and managers when it comes to dividends? Can it be interpreted differently?