search query: @author Leibowitz, M.L. / total: 5
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Author: | Leibowitz, M.L. |
Title: | Spread-driven dividend discount models |
Journal: | Financial Analysts' Journal
2000 : NOV/DEC, VOL. 56.6, p. 64-81 |
Index terms: | Dividends Return on investment Shareholders Valuation |
Language: | eng |
Abstract: | A key determinant of shareholder value is the franchise spread - the company's incremental return on new investments over the cost of capital. Explicitly incorporating this spread into the valuation process paves the way for a more compact, two-parameter formulation of the standard three-parameter dividend discount model. |
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