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snow666_6 · 2020年03月03日

问一道题:NO.PZ2018062002000161 [ CFA I ]

问题如下:

Which of the following statement is most accurate about the present value model?

选项:

A.

The present value model can only be used when the stock pays dividends or is expected to pay dividends

B.

The present value model can only be used when the stock pays dividends.

C.

Present value models can be applied for stocks paying a dividend presently, are not expected to pay a dividend, or are expected to pay a dividend.

解释:

C is correct.

The dividend discount model can be used for a stock that pays the current dividend or the stock that is expected to pay dividends. FCFE can be used for stocks that do not or not expect to,pay dividends in the near future.

在ddm模型的限制中,difficult with non-dividend stocks 不是不适用于这个模型吗?麻烦能否解答下!谢谢!
1 个答案

maggie_品职助教 · 2020年03月04日

嗨,从没放弃的小努力你好:


这里的问的是现值模型的不是DDM,DDM是现值模型的一个分支,我们折现既可以用股利还可以用自有现金流,所以当公司不发股利时,我们也可以用自有现金流折现模型。


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加油吧,让我们一起遇见更好的自己!


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