139****06982022-02-14 04:10:37

老师：The free cash flow to equity (FCFE) model is a measure of the firm’s dividend-paying capacity, （which should be reflected in the cash flow estimates rather than expected dividends. the cash flow estimate 与 expected dividends 的区别？ Analysts must make projections of financials to forecast future FCFE, and （thus the constant growth assumption, as in the Gordon growth model, is not an issue.）为什么？ An asset-based valuation model is not appropriate because of the high proportion of intangibles (goodwill and patents) in the firm’s assets. 谢谢！