Explain the principal problem involved in using a dividend valuation model to value: i. companies whose operations are closely correlated with economic cycles. ii. companies that are of very large and...

Explain the principal problem involved in using a dividend valuation model to value:

i. companies whose operations are closely correlated with economic cycles.

ii. companies that are of very large and mature.

iii. companies that are quite small and are growing rapidly.

Assume that all companies pay dividends.