为什么不能用DDM？

问题如下：

Question A company expects negative free cash flow to equity, but to still pay a constant, stable dividend. The most appropriate model to value the company is the:

选项：

A.A.residual income model. B.B.dividend discount model. C.C.free cash flow to equity model.

解释：

• compare dividends, free cash flow, and residual income as inputs to discounted cash flow models and identify investment situations for which each measure is suitable