Question: We learned that the return to equity can be decomposed into four parts Return = dividend yield + dividend growth + valuation change + small
We learned that the return to equity can be decomposed into four parts
Return = dividend yield + dividend growth + valuation change + small adjustment
Which one of the following three parts is most likely to disappear in the future?
dividend yield, as more tech firms are listed
valuation change, as valuation can not grow forever
dividend growth, as more tech firms are listed
all of the above
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