NO.PZ2022101402000008
问题如下:
An analyst is estimating a historical ERP for a market based on the following information.
The historical ERP is closest to:
选项:
A.3.15%
6.81%
9.96%
解释:
B is correct.
The ERP using the historical approach is calculated as the mean value of the difference between a broad-based equity market index return and a government debt return. Therefore, the ERP using the historical approach is calculated as 9.96% – 3.15% = 6.81%.
计算ERP不是用公式 ERP = DY + delta(P/E) +i +g +delta(S) - rf 吗?代入公式,得到ERP = 4.24%。 为什么这里是两个数直接相减呢?