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Workers interest in participation is also influenced by certain personnel or group characteristics. For example several research studies have shown that both very low and very high levels of task relevant maturity discourage participation. Participation by extremely immature workers is like the blind leading the blind. It is pooling of ignorance. On the other hand extremely mature workers rarely participate. They resist group think because they prefer only the expert in an area to make the decisions. Thus the effectiveness of workers participation in management increase as one moves from low to moderate levels of maturity and then begins to plateau and finally to decline as workers become high in task relevant maturity.
If the EPS is Rs.5, dividend pay-out ratio is 50%, cost of equity is 20% and growth rate in the ROI is 15%. What is the value of the stock as per Gordon's Dividend Equalisation Mod
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