老师，A选项为什么不对

问题如下：

Company A is an employment services firm with no debt and has fixed assets consisting primarily of computers, servers, and commercially available software. Many of the assets are intangible, including human capital. The company has a history of occasionally paying a special cash dividend.

Based on Company A’s characteristics, which of the following absolute valuation models is most appropriate for valuing that company?

选项：

A.

Asset based

B.

Dividend discount

C.

Free cash flow to the firm

解释：

The free cash flow to the firm model is the most appropriate of the choices because it can be used whether the company has significant marketable assets or consistently pays a cash dividend. Much of Company A’s assets are intangible and although the company has a history of paying a dividend, it has been only occasionally and in the form of a special dividend (i.e., not a consistent cash dividend).