NO.PZ2018062002000158
问题如下：
Jack,an analyst of a PE, is calculating the intrinic value of stock who bases the computation on dividend-paying capability instead of forcasted dividends will use:
选项：
A.cash flow from operations model.
B.FCFE model.
C.dividend discount model.
解释：
B is correct.
The free cash flow to equity model assumes that dividend-paying capability is shown in free cash flow to equity.
考点：FCFE Model
FCFE是股东可以自由支配的现金流，因此它是可以被用来发放股利的最大值。因此也被称为dividend-paying capability股利支付的能力。
老师能否举个例子说明一下，总感觉提到dividend就会联想到DDM，不知如何与FCFE联系
