问题
单项选择题
ff the payout ratio increases, the P/E multiple will:（）
A. increase, if we assume that the growth rate remains constant.
B. always increase.
C. decrease, if we assume that the growth rate remains constant.
答案
参考答案：A
解析：
When payout ratio increases, the P/E multiple increases only if we assume that the growth rate will not change as a result.