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A meromorphic function on the unit disc has bounded characteristic if and only if it has this representation. Its pole Blaschke product $B$ makes $g=Bf$ analytic with bounded positive logarithmic means. The least harmonic majorant by expanding disk lifts gives $H\ge {\log }^{+}|g|$. A harmonic conjugate gives an analytic $A$ with $\mathrm{Re}A=H$, so $u=g{e}^{-A}$ and $v=B{e}^{-A}$ are bounded. Conversely the Nevanlinna first main theorem bounds the characteristic of $u/v$ by that of $u$ and $1/v$, hence by a constant.

For a holomorphic function on the unit disc, this boundary condition characterizes Blaschke products, including unimodular constants. The nondecreasing radial means of the nonnegative subharmonic function ${\log }^{+}|f|$ must vanish, so $|f|\le 1$. In the Blaschke factorization of a bounded holomorphic function $f=Bg$, both logarithmic means tend to zero. The mean value property for harmonic functions applied to $\log |g|$ gives $|g(0)|=1$, and the maximum modulus principle makes $g$ unimodular constant. The converse follows from the radial logarithmic mean of a Blaschke product. Omitting the outer absolute value changes the condition: $e^z$ has zero mean logarithmic modulus, but is not a Blaschke product.