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NO.PZ2023032701000019问题如下 Tanner expects short-term rapiearnings growth of 20% in 2014 for GNSK, with the rate of growth linearly minishing over the next five years to matinstry contions thereafter. He assumes thstarting in Ye6, GNSK’s long-term vingrowth rate will equto the current level of impliegrowth rate for the instry. Given these assumptions anthe ta in Exhibit 1.Using Braey’s assumptions regarng GNSK anthe ta from Exhibit 1, GNSK’s long-term vingrowth rate is closest to: A.8.0%B.7.0%C.7.3% 0.037 = (0.11 – g)/(1 + g)0.037(1 + g) + g = 0.110.037 + 0.037g + g = 0.111.037g = 0.11 – 0.037g = 0.073 / 1.037 = 0.0704 =7.0% 看了以往的问题，还是有个疑问: 用行业平均增长率，那么为什么不能用行业的roe x (1-b)来计算g

NO.PZ2023032701000019 问题如下 Tanner expects short-term rapiearnings growth of 20% in 2014 for GNSK, with the rate of growth linearly minishing over the next five years to matinstry contions thereafter. He assumes thstarting in Ye6, GNSK’s long-term vingrowth rate will equto the current level of impliegrowth rate for the instry. Given these assumptions anthe ta in Exhibit 1.Using Braey’s assumptions regarng GNSK anthe ta from Exhibit 1, GNSK’s long-term vingrowth rate is closest to: A.8.0% B.7.0% C.7.3% 0.037 = (0.11 – g)/(1 + g)0.037(1 + g) + g = 0.110.037 + 0.037g + g = 0.111.037g = 0.11 – 0.037g = 0.073 / 1.037 = 0.0704 =7.0% 此题为何不能用这个公式g+vinyielrequirerate of return？

NO.PZ2023032701000019问题如下 Tanner expects short-term rapiearnings growth of 20% in 2014 for GNSK, with the rate of growth linearly minishing over the next five years to matinstry contions thereafter. He assumes thstarting in Ye6, GNSK’s long-term vingrowth rate will equto the current level of impliegrowth rate for the instry. Given these assumptions anthe ta in Exhibit 1.Using Braey’s assumptions regarng GNSK anthe ta from Exhibit 1, GNSK’s long-term vingrowth rate is closest to: A.8.0%B.7.0%C.7.3% 0.037 = (0.11 – g)/(1 + g)0.037(1 + g) + g = 0.110.037 + 0.037g + g = 0.111.037g = 0.11 – 0.037g = 0.073 / 1.037 = 0.0704 =7.0% 为什么这里的r选用requirereturn而不用return on equity？

NO.PZ2023032701000019 问题如下 Tanner expects short-term rapiearnings growth of 20% in 2014 for GNSK, with the rate of growth linearly minishing over the next five years to matinstry contions thereafter. He assumes thstarting in Ye6, GNSK’s long-term vingrowth rate will equto the current level of impliegrowth rate for the instry. Given these assumptions anthe ta in Exhibit 1.Using Braey’s assumptions regarng GNSK anthe ta from Exhibit 1, GNSK’s long-term vingrowth rate is closest to: A.8.0% B.7.0% C.7.3% 0.037 = (0.11 – g)/(1 + g)0.037(1 + g) + g = 0.110.037 + 0.037g + g = 0.111.037g = 0.11 – 0.037g = 0.073 / 1.037 = 0.0704 =7.0% 为何此处的imply g和行业ROE*b得出来的g有什么联系吗，或两者可以等同吗？

NO.PZ2023032701000019 问题如下 Tanner expects short-term rapiearnings growth of 20% in 2014 for GNSK, with the rate of growth linearly minishing over the next five years to matinstry contions thereafter. He assumes thstarting in Ye6, GNSK’s long-term vingrowth rate will equto the current level of impliegrowth rate for the instry. Given these assumptions anthe ta in Exhibit 1.Using Braey’s assumptions regarng GNSK anthe ta from Exhibit 1, GNSK’s long-term vingrowth rate is closest to: A.8.0% B.7.0% C.7.3% 0.037 = (0.11 – g)/(1 + g)0.037(1 + g) + g = 0.110.037 + 0.037g + g = 0.111.037g = 0.11 – 0.037g = 0.073 / 1.037 = 0.0704 =7.0% 请问公式里头的P0在哪里体现了？