Which of the following is NOT a risk factor for a country's risk premium（）

单项选择题Which of the following is NOT an assumption of the constant growth dividend discount model (DDM)（）

A. The growth rate of the firm is higher than the overall growth rate of the economy.
B. ROE is constant.
C. Dividend payout is constant.

单项选择题Assume a company's ROE is 14% and the required return on equity is 13%. All else remaining equal, if there is a decrease in a firm's retention rate, a stock's value as estimated by the constant growth dividend discount model (DDM) will most likely:（）

A. increase.
B. decrease.
C. not change.