These targets continue to support our dividend growth model
and share repurchase initiatives while also demonstrating our confidence in our ability to successfully manage our efficiency programmes and growth-focussed investments in a highly competitive industry.
Assuming normally distributed shocks, the likelihood functions for the two models are very similar, with a slight advantage in favor of the nonstationary real dividend growth model
There are also methods based on the dividend growth model
of Gordon (1962), or classic fundamental analysis.
Other methods, particularly the dividend growth model
, were ignored, as were the possible differences that occur between CAPM and dividend growth.
Cho (1988) explores the relationship between firm value and risk management activities using Gordon's Constant Dividend Growth Model