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Joanne · 2023年05月03日

第二句为什么是错的?

NO.PZ2023032701000031

问题如下:

Peters asks a newly hired analyst, Kurt Thomas, to comment on the evaluation approach for these three stocks. Thomas makes the following statements:

A free cash flow valuation model would not be appropriate to evaluate Company ABC if the firm becomes a takeover candidate.

A dividend discount model cannot be applied to Company XYZ if dividends are suspended for a few years.

A dividend discount model is suitable for evaluating the stock of Company JZY because of the historically consistent payout ratio.

Which of the following statements made by Thomas is correct?

选项:

A.

Statement 1

B.

Statement 2

C.

Statement 3

解释:

A dividend discount model is especially useful when dividend policy bears an understandable and consistent relationship to the company’s profitability. The relatively consistent dividend payout ratio suggests Company JZY would be a suitable candidate for a dividend discount model.

Dividend 的发放停止了很多年,还可以使用DDM模型吗?

1 个答案
已采纳答案

王园圆_品职助教 · 2023年05月03日

第二个说法说DDM模型不能用在公司有几年分红延缓发放的情形——这跟题库里之前有过的很多例题的计算都是不相符的

延缓几年发放,那就是前几年的分红都是0,之后的分红只要稳定正常,依然可以把有分红的所有那些年限的分红折现到0时刻,依然可以计算出公司股票的价值——所以说法2是错的