NO.PZ2015122802000158
问题如下：
An analyst who bases the calculation of intrinsic value on dividend-paying capacity rather than expected dividends will most likely use the:
选项：
A. dividend discount model.
B. free cash flow to equity model.
C. cash flow from operations model.
解释：
B is correct.
The FCFE model assumes that dividend-paying capacity is reflected in FCFE.
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。
如题。。。。。。。。
