企業淨現值全麵概述(英文版)(ppt 30頁)
企業淨現值全麵概述(英文版)目錄:
1 The One-Period Case
2 The Multiperiod Case
3 Compounding Periods
4 Simplifications
5 What Is a Firm Worth?
6 Summary and Conclusions
企業淨現值全麵概述(英文版)內容提要:
The Multiperiod Case: Future Value:
Suppose that Jay Ritter invested in the initial public offering of the Modigliani company. Modigliani pays a current dividend of $1.10, which is expected to grow at 40-percent per year for the next five years.
What will the dividend be in five years?
Simplifications:
Perpetuity
A constant stream of cash flows that lasts forever.
Growing perpetuity
A stream of cash flows that grows at a constant rate forever.
Annuity
A stream of constant cash flows that lasts for a fixed number of periods.
Growing annuity
A stream of cash flows that grows at a constant rate for a fixed number of periods.
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