Objectives Understanding the discounting cash flow method of a stock valuation Explain how a firm's dividend policy can affect shareholder wealth. THE COURSE OF FINANCE 2017 SPRING SJTUObjectives Explain equity evaluation ü Understanding the discounting cash flow method of a stock valuation ü Explain how a firm ’ s dividend policy can af ect shareholder wealth. THE COURSE OF FINANCE 2017 SPRING SJTU 2