| phase | initial growth | transition | maturity |
| earnings | rapidly increasing | ||
| dividends | little or no | ||
| reinvestment | heavy | ||
| ROE & required return on the stock (r) | ROE > r | ||
| FCFE | negative (*) | ||
| profit margin | high |
Wednesday, May 12, 2010
stages of growth
Labels:
CFA Level 2 (June 2010),
S
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