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米妮涵 · 2021年08月19日

答案最后一句话是什么意思,为什么是用短期9%的利率来算re

* 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.

请问 Based on using a short-term rate of 9 percent, 这句是说此题中算re要用9%的短期无风险利率来算么?为什么?

1 个答案

王园圆_品职助教 · 2021年08月19日

嗨,从没放弃的小努力你好:


同学你好,题目解析的最后一句应该是出题者的一个笔误哟。因为在计算Rm的时候就是要用长期的无风险利率作为Rf的值,因为假设股票市场可以永续存在的,所以应该看重长期的无风险利率哟。题目的第一句解析其实才是正确的呢~

希望我的回答能够有所帮助,如果还有什么不理解的,欢迎继续跟我们一起探讨哟~~

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