Justin Owens is an analyst for an equity mutual fund that invests in British stocks. At the beginning of 2008, Owens is examining domestic stocks for possible inclusion in the fund. One of the stocks that he is analyzing is British Sky Broadcasting Group (BSY). The stock has paid dividends per share of £9, £12.20, and £15.50 at the end of 2005, 2006, and 2007, respectively. The consensus forecast by analysts is that the stock will pay a dividend per share of £18.66 at the end of 2008 (based on 19 analysts) and £20.20 at the end of 2009 (based on 17 analysts). Owens has estimated that the required rate of return on the stock is 11 percent.
Q. Choose the best option to fill in the blank for the following statement: "The estimated value of BSY would _____ as r _____ and _____ as g ______, all else equal."
- decrease, increases, increase, increases
- decrease, decreases, decrease, increases
- increase, decreases, increase, increases
- increase, increases, increase, increases.
Solution
A is correct. The estimated value of BSY would decrease as r increases and increase as g increases, all else equal.
答案C为什么不对？
