NO.PZ201512300100000801
问题如下:
1. Which of the following is closest to Rae’s estimate of the stock’s value?
选项:
A.
$10.08.
B.
$10.54.
C.
$10.62.
解释:
C is correct.
Using the Gordon growth model,
$$V_0=\frac{D_1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$
为什么可以5.3%来作为g?题目中给了EPS的增长率4.48%,给了Div的增长率5.3%,这两个为什么会不一样呢?按照DDM,不应该E的增长率和D的增长率是一样的吗?这两个增长率不一样可以用DDM模型吗?