In this paper, we built a two period EBO valuationmodel, by which a dynamic programming was used for solving the optimized dividend payout path and stock value.
对成长型股票建立了两阶段ebo价值评估模型,利用动态规划法求解最优股利支付路径及股票价值。
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Moreover, the study resulted in the discovery of the fact that the residual income model is a better valuation method compared to the dividend discount model.