Question
Under the competitive equilibrium assumption, the terminal value in the discounted abnormal earnings growth model is the present value of abnormal earnings in the terminal
Under the competitive equilibrium assumption, the terminal value in the discounted abnormal earnings growth model is the present value of abnormal earnings in the terminal year times minus one, capitalized at the cost of equity. Explain.
Text: Business analysis and valuation fifth edition
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
