17783510317 · 2023年10月06日
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NO.PZ201512300100001001
问题如下：
1. Which of the following long-term FCFE growth rates is most consistent with the facts and stated policies of Emerald?
选项：
A.
5 percent or lower.
B.
2 percent or higher.
C.
8 percent or higher.
解释：
C is correct.
The sustainable growth rate is return on equity (ROE) multiplied by the retention ratio. ROE is 10 percent, and the retention ratio is 1-Payout ratio, or 1.0-
g 比8%更高的话，如11%，那不是违反了假设，g大于r 的假设吗
NO.PZ201512300100001001问题如下1. Whiof the following long-term FCFE growth rates is most consistent with the facts anstatepolicies of EmeralA.5 percent or lower.B.2 percent or higher.C.8 percent or higher.C is correct.The sustainable growth rate is return on equity (ROE) multipliethe retention ratio. ROE is 10 percent, anthe retention ratio is 1-Payout ratio, or 1.0- 0.2 = 0.8. The sustainable growth rate is 0.8 × 10% = 8%. FCFE growth shoulleast 8 percent per yein the long term. 能否讲一下具体的推导？
NO.PZ201512300100001001 ROE和g的关联公式是？
NO.PZ201512300100001001 我用公式算出了8 percent，但是不明白为什么是8 percent anhigher
这个为什么不考虑inventory changes (unsustainable source）5% 带来的影响？
