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星夜晴空 · 2019年11月13日

问一道题:NO.PZ2018062002000187

问题如下:

Which of the following is considered as a weakness of the present value model?

选项:

A.

Present value models cannot be used for companies that do not pay dividends.

B.

Small changes in model assumptions and inputs can result in large changes in the computed intrinsic value of the security.
 

C.

The value of the security depends on the investor’s holding period; thus, comparing valuations of different companies for different investors is difficult.
 

解释:

B is correct.

Small changes in input, such as required rate of return or dividend growth, lead to significant changes in the output of valuation models. Some present value models, such as FCFE models, can be used to evaluate companies without dividends. In addition, the intrinsic value of securities has nothing to do with the holding period of investors.

请问present value model 都包括有哪些, FCFE, GGM 还有其他吗

1 个答案

maggie_品职助教 · 2019年11月14日

FCFF、DDM。注意GGM是DDM的特殊形式。