2[1]Merton H Miller,F Modigliani.Dividend Policy, Growth And The Valuation Of Shares[J]. The Journal of Business,1996,33:406-535.
3[2]Ohlson J A.Earnings,Book Values And Dividends In Equity Valuation[J]. Contemporary Accounting research, 1995,25:661-687.
4[4]Thomas Oldenburg. Firm Valuation: Comparing the Residual Income and Discounter Cash Flow Approaches[J].Scandinavian Journal of Management, 2002,18:303-318.
6Alfred Marshall. Principles of Economics[ M]. Book Two : Some Fun- damental Notions, Chapter 4, "Income, Capital". London : Mac- millan and Co. , Ltd. , 1890.
7CMC Lee, J Myers and B Swaminathan. What is the Intrinsic Value of the Dow? [ J ]. Journal of Finance, 1999 ( 54 ).
8JA Ohlson. A Synthesis of Security Valuation Theory and the Role of Dividens, Cash Flows, and Earnings [ J ]. Contemporary Account- ing Research, 1990 (07).
9JA Ohlson. Earnings, Book Values and Dividends in equity Valua- tionl Jl. Contemporary Accounting Research, 1995 ( 11 ).
10Stephen H. Penman, Theodore Sougiannis. A Comparison of Divi- dend, Cash Flow, and Earnings Approaches to Equity Valuation [ Jl. Contemporary Accounting Research, 1995,15 (03).