单选题 All of the following factors affects the firm"s P/E ratio EXCEPT:

A、 the expected interest rate on the bonds of the firm.
B、 growth rates of dividends.
C、 expected dividend payout ratio.

【正确答案】 A

【答案解析】The factors that affect the P/E ratio are the same factors that affect the value of a firm in the infinite growth dividend discount model. The expected interest rate on the bonds is not a significant factor affecting the P/E ratio.