问题如下：
A company has positive free cash flow and is considering whether to use the entire amount of that free cash flow to pay a special cash dividend or to repurchase shares at the prevailing market price. Shareholders’ wealth under the two options will be equivalent unless the:
选项：
A.company’s book value per share is less than the prevailing market price.
B.company’s book value per share is greater than the prevailing market price.
C.tax consequences and/or information content for each alternative is different.
解释：
C is correct.
For the two options to be equivalent with respect to shareholders’ wealth, the amount of cash distributed, the taxation, and the information content must be the same for both options.
老师，不好意思，我还是对BV和mkt price有疑惑
股东手上的股票价值是按照mkt price来算还是BV 来算？
我看到您之前画的图，我在下面追问了 http://class.pzacademy.com/qa/questions/23663 ，但是怕您filter不出来（之前遇到过），我再在这里提问一下。
老师，针对您的图片，请问下1）stock holder wealth是和公司的equity 是两回事是么？equity只是单单指公司发行的股票市场价？ 2） 回购后，股票市场价格不变么？为什么呢？3）老师举的例子都是理想状态是么？ 比如发了1元股利，股价就跌一元？ 4） 题目里的wealth是指从股票的市场价格还是股票的Book value考虑呢？ 多谢老师！
