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廖廖酱 · 2021年07月07日

关于题目里ERP为2%不理解

* 问题详情,请 查看题干

NO.PZ201512300100000305

问题如下:

5. Common stock issues in the above market with average systematic risk are most likely to have required rates of return:

选项:

A.

between 2 percent and 7 percent.

B.

between 7 and 9 percent.

C.

9 percent or greater.

解释:

C is correct.

Based on a long-term government bond yield of 7 percent, a beta of 1, and any of the risk premium estimates that can be calculatedfrom the givens (e.g., a 2 percent historical risk premium estimate or 4.3 percent supply side equity risk premium estimate), the required rate ofreturn would be at least 9 percent. Based on using a short-term rate of 9 percent, C is the correct choice.

老师你好,不知道这道题题干中画红线的句子是什么意思?是如何得知ERP为2%的?以及β为1题目原文中也没有提及好像。
1 个答案
已采纳答案

韩韩_品职助教 · 2021年07月12日

嗨,爱思考的PZer你好:


同学您好:

1、关于你画红线的句子意思为“(结合上句的从07年开始可以获得该股票市场的10年的历史数据)股票市场十年期的几何平均收益率比十年期国债的收益率高出(over是关键词)2%”,此处是在告诉我们Rm-Rf=2%;

2、而关于β=1,问题中:Common stock issues in the above market with average systematic risk,有着平均水平的系统风险,就在告诉我们β=1;


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