NO.PZ2015122802000169
问题如下：
The Gordon growth model can be used to value dividend-paying companies that are:
选项：
A. expected to grow very fast.
B. in a mature phase of growth.
C. very sensitive to the business cycle.
解释：
B is correct.
The Gordon growth model (also known as the constant growth model) can be used to value dividend-paying companies in a mature phase of growth. A stable dividend growth rate is often a plausible assumption for such companies.
考点：GGM
GGM有一个重要的假设就是增长率g要恒定，因此它适用于成熟\发展稳定的公司。
A高速增长说明该公司还处于成长阶段，增速还没有达到稳定
C如果公司对经济周期敏感，势必利润会波动，那么D也会波动，就违反了GGM的前提。
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