TY - JOUR T1 - Valuation of Stocks with Prospects of Dividend Growth JF - The Journal of Investing SP - 64 LP - 68 DO - 10.3905/joi.2002.319496 VL - 11 IS - 1 AU - John A. Haslem Y1 - 2002/02/28 UR - https://pm-research.com/content/11/1/64.abstract N2 - The objective it to demonstrate the use of dividend models to approximate growth rate or required rate of return assumptions underlying current stock prices. The analysis uses two models, Williams and Brigham-Pappas, for easy testing of “what if” assumptions concerning implicit growth assumptions in current stock prices. The results demonstrated that the particular model selected to describe a stock's dividend time path, dividend growth rate and the required rate of return has a large impact on the stock's identified value. It was also observed that the stock price applied has a large impact on the stock's identified rate of return and the stock price applied has a large impact on the stock's identified dividend growth rate. ER -