NO.PZ2022061307000072
问题如下：
Question According to the industry life-cycle model, companies in a mature industry are most likely to experience:选项：
A.high barriers to entry. B.fierce competition. C.low dividend yields.解释：
SolutionA is correct. In the mature stage of the industry life-cycle model, brand loyalty and efficient cost structures will create barriers to entry. Fierce competition is a characteristic of the shakeout phase: Demand approaches market saturation levels because few new customers are left to enter the market. Because few growth opportunities are available in the mature phase, there is little need for capital investment, and thus greater amounts of earnings are paid out as dividends, increasing dividend yields.
B is incorrect. Fierce competition is a characteristic of the shakeout phase, not the mature stage. In the mature stage, the remaining companies in the industry aggressively fight for market share.
C is incorrect. Dividends increase in the mature stage, as there are little in the way of growth opportunities, and not much need for capital investment—a greater proportion of earnings are paid out as dividends, increasing dividend yields.
B为什么不对啊
