单选题
Which of the following is NOT a determinant of the expected price/earnings (P/E) ratio?
A、
Expected dividend payout ratio (D/E).
B、
Expected growth rate in dividends (g).
C、
Average debt to capital ratio (D/C).
【正确答案】
C
【答案解析】
The P/E ratio is determined by payout ratio D/E, required return K
e
, and expected growth g.
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