All of the following factors affects the f

问题单项选择题

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.

答案

参考答案：A

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.