baldmice

Using P/E1 = D/E1 /(K-g)

If dividend payout increase, which means g is lower, it makes P/E smaller.

D is not right.

baldmice

QUOTE:

以下是引用水上小又在2009-5-5 19:15:00的发言：

补充3楼一下，其实dividend payout increase不光意味着g减小，d/e也增加了，也就是说分母和分子都增加了，这道题是分母的影响比较大，也就是g的影响比较大，举个简单的例子，如果k=50%，结果就会相反了

Yes, you're right. I didn't notice that.