哪里出现了present value model

问题如下：

With respect to present value models, which of the following statements is most accurate?

选项：

Present value models can be used only if a stock pays a dividend.

Present value models can be used only if a stock pays a dividend or is expected to pay a dividend.

Present value models can be used for stocks that currently pay a dividend, are expected to pay a dividend, or are not expected to pay a dividend.

解释：

C is correct.

Dividend discount models can be used for a stock that pays a current dividend or a stock that is expected to pay a dividend. FCFE can be used for both of those stocks and for stocks that do not, or are not expected to, pay dividends in the near future. Both of these models are forms of present value models.

考点：GGM

绝对估值模型又被称为PV模型（现值模型）和DCF（折现现金流模型），这三个是一个意思，后两个是根据模型估值原理来命名的。按照折现不同的现金流划分：1、折现股利的模型叫做DDM（红利折现模型）。2、折现公司现金流的模型（两种现金流FCFE\FCFF），这个模型适用不发红利的公司或是站在控股股东的角度来估值时。所以现值模型既适合分红的公司，也适合不分红的公司。