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A NOTE ON THE COST OF EQUITY WHEN DIVIDEND CHANGES ARE LEVEL GRADIENTS

 

作者: K. C. Chen,   WallaceN. Davidson,  

 

期刊: The Engineering Economist  （Taylor Available online 1984）
卷期: Volume 30, issue 2  

页码: 182-190

 

ISSN:0013-791X

 

年代: 1984

 

DOI:10.1080/00137918408902904

 

出版商: Taylor & Francis Group

 

数据来源: Taylor

 

摘要:

One of the more controversial aspects of a public utility rate case is the determination of the cost of equity component of the allowed return. In practice, the Capital Asset Pricing Model, CAPM, and the Discounted Cash Flow Model, DCF, are used for this purpose. The difficulties in using the CAPM have been documented elsewhere. This note examines the DCF model.

 

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