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标题: Reading 41: Free Cash Flow Valuation-LOS c习题精选 [打印本页]

作者: 土豆妮 时间: 2010-4-19 13:20 标题: [2010]Session 12-Reading 41: Free Cash Flow Valuation-LOS c习题精选

Session 12: Equity Investments: Valuation Models
Reading 41: Free Cash Flow Valuation

LOS c: Contrast the ownership perspective implicit in the FCFE approach to the ownership perspective implicit in the dividend discount approach.

The ownership perspective implicit in the dividend valuation approach is of:

A)
control.

B)
a preferred stockholder.

C)
a common stockholder.

Dividends are most relevant to the stockholders who receive them and who have little control over their amount.

作者: 土豆妮 时间: 2010-4-19 13:20

The ownership perspective implicit in the free cash flow to equity valuation approach is of:

A)
control.

B)
a preferred stockholder.

C)
a minority position.

Dividend policy can be changed by the buyer of a firm. Thus, the free cash flow perspective looks to the source of dividends in a position of control rather than directly at dividends.

作者: 土豆妮 时间: 2010-4-19 13:20

A control perspective is most consistent with which of the following valuation approaches?

A)
Dividends.

B)
Price to enterprise value.

C)
Free cash flow (FCF).

Dividend policy can be changed by the buyer of a firm. Thus, the FCF perspective looks to the source of dividends in a position of control rather than directly at dividends. The price to enterprise value approach does not focus on cash flows.

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