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【单选题】

The ________ is the fraction of earnings reinvested in the firm.

A.
dividend payout ratio
B.
retention rate
C.
plowback ratio
D.
dividend payout ratio and plowback ratio
E.
retention rate or plowback ratio
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参考解析:
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【单选题】The Gordon model________

A.
is a generalization of the perpetuity formula to cover the case of a growing perpetuity.
B.
is valid only when $g$ is less than $k$.
C.
is valid only when $k$ is less than $g$.
D.
is a generalization of the perpetuity formula to cover the case of a growing perpetuity and is valid only when $g$ is less than $k$.
E.
is a generalization of the perpetuity formula to cover the case of a growing perpetuity and is valid only when $k$ is less than $g$.

【单选题】Investors want high plowback ratios________

A.
for all firms.
B.
whenever $ROE > k$.
C.
whenever $k > ROE$.
D.
only when they are in low tax brackets.
E.
whenever bank interest rates are high.