|
LOS a: Explain how the classic works on asset valuation by Graham and Dodd and John Burr Williams are reflected in modern techniques of equity valuation.
Q1. Although we often take modern security analysis for granted, the basic concept that a firm’s value could be determined by analyzing its income statement and balance sheet was not seriously advanced until about seventy years ago, when this approach was published by:
A) Harry Markowitz.
B) John Burr Williams.
C) Benjamin Graham and David Dodd.
Q2. Modern security analysis is built on the concept of:
A) constant growth of earnings and dividends.
B) discounting future returns.
C) speculation as a professional activity.
Q3. Which of the following models is credited to the work of John Burr Williams?
A) Cash flow return on investment (CFROI).
B) Dividend discount model (DDM).
C) Free cash flow to equity (FCFE). | 
发表于 2009-3-5 09:18
| 
