- 1、本文档共4页,可阅读全部内容。
- 2、原创力文档(book118)网站文档一经付费(服务费),不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
- 3、本站所有内容均由合作方或网友上传,本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺!文档内容仅供研究参考,付费前请自行鉴别。如您付费,意味着您自己接受本站规则且自行承担风险,本站不退款、不进行额外附加服务;查看《如何避免下载的几个坑》。如果您已付费下载过本站文档,您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“版权申诉”(推荐),也可以打举报电话:400-050-0827(电话支持时间:9:00-18:30)。
- 5、该文档为VIP文档,如果想要下载,成为VIP会员后,下载免费。
- 6、成为VIP后,下载本文档将扣除1次下载权益。下载后,不支持退款、换文档。如有疑问请联系我们。
- 7、成为VIP后,您将拥有八大权益,权益包括:VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
- 8、VIP文档为合作方或网友上传,每下载1次, 网站将根据用户上传文档的质量评分、类型等,对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档
查看更多
云财公司理财Valuation of common stock
Valuation of common stock
201005000947 国会10-1班 傅玲冬
As we all know ,the valuation of the common stock is very important not only for the company itself but also for the investors,shareholders.The valuation of the common stock,simply say the price of the stock issued by the firm is the mirror of the company,which reflecting the condition of the firm.And the choice of the investors.
As for the valuation of the common stock,there are many views in academy.
The standpoint of Dividend Discount Model put forward by Williams in 1938, was abbreviated as DDM
Williams’s dividend discount model tell us that
Where is the estimate of value, is the dividend in period t and is the discount rate applicable in period t.
The standpoint of Gordon Dividend Growth Model put forward by Gordon
=
Where is the dividend in the first year ,g is the expected growth rate in dividends for the future. and k and g are supposed to be constant.Although Gordon Dividend Growth Model is widely used in the valuation of the common stock,there are some assuptions such as the the dividends are expected to grow at a constant rate in the future.I think in the small business,it is difficult to come ture.
Nonconstant growth valuation model
=present value of expected dividends during period of nonconstant growth+present value of the expected stock price at the end of the nonconstant growth period.
However the inner idea is the same with the above two models.Using time value of money,compound.
The common stockholders are the owners of the firm. They have the right to vote on important matters to the firm such as the election of the Board of Directors. Preferred stock.On the other hand, issuing common stock is an effective form of financing.
The common stockholders have a residual claim against the assets and cash flows of the firm. That is, the common stockholders have a claim against whatever assets remain after the debtholders and preferred stockholders have been paid. Moreover, the
您可能关注的文档
- 氦氖激光器项目可行性研究报告(2013年发改委评审方案设计)-专家免费咨询.pdf
- 双回鼓型转角塔之三- 7852.pdf
- 环氧聚硅氧烷丙烯酸酯的合成及其光固化的研究.pdf
- 大学英语四六级考试——对话式听力分析.doc
- 钢、木模安全技术交底.doc
- 五年级语文下册《梦圆飞天.doc
- 陈列规范统一项目.doc
- 第05章 照明灯具.pdf
- 浅谈高中班主任了解学生的方法.doc
- 单体试运质量控制.doc
- 场地脚手架工程施工方案(3篇).docx
- 2024年浙江省丽水市松阳县玉岩镇招聘社区工作者真题及参考答案详解一套.docx
- 2024年河南省郑州市惠济区古荥镇招聘社区工作者真题及答案详解一套.docx
- 2024年浙江省杭州市淳安县文昌镇招聘社区工作者真题及完整答案详解1套.docx
- 2024年浙江省台州市三门县小雄镇招聘社区工作者真题带答案详解.docx
- 2024年浙江省宁波市余姚市河姆渡镇招聘社区工作者真题及完整答案详解1套.docx
- 2024年浙江省丽水市景宁畲族自治县雁溪乡招聘社区工作者真题及答案详解一套.docx
- 2024年浙江省杭州市临安市板桥乡招聘社区工作者真题及答案详解一套.docx
- 2024年湖北省宜昌市点军区土城乡招聘社区工作者真题及答案详解一套.docx
- 2024年浙江省台州市路桥区桐屿街道招聘社区工作者真题附答案详解.docx
最近下载
- ansys结构声振耦合解决方案.pptx VIP
- ANSYS系统仿真与数字孪生解决方案.pptx VIP
- 第17课 电脑动画 教案 人教版 美术 五年级上册.docx VIP
- 湖北省黄冈市2025年八年级上学期1月期末英语试题(含答案).docx VIP
- 娱乐先锋II_高级KTV系统.pdf VIP
- 汽车软件简介演示.pptx VIP
- 水处理大法聚二甲基二烯丙基氯化铵在给水除藻中的作用应用的探讨.doc VIP
- 2026龙飞平面图形推理基础理论➕百大图形3.0版本.pdf VIP
- 连云港“高质发展、后发先至”-全面建设连云港小康社会继续教育题库及.pdf VIP
- 水污染控制工程第11章.ppt VIP
文档评论(0)