|
- UID
- 223318
- 帖子
- 243
- 主题
- 137
- 注册时间
- 2011-7-11
- 最后登录
- 2013-8-23
|
Gordon Growth model
p0=d1/(r-g)
g=b*roe (b=Retention Ratio)
ROE=Return on Equity
40% earning is paid out as dividends, so 60% is retained.
g=60% * ROE = 60%*16% = 9.6%
D1=D0(1+g)=1.5*1.096
r = D1/P0 + g
=1.5*1.096/40 + 0.096
CP |
|
发表于 2011-7-11 18:42
|