NO.PZ201512300100001505
问题如下：
Silverstein should estimate the Gordon Growth Model (GGM) equity risk premium as:
选项：
A.
4.3%
B.
5.4%
C.
9.3%
解释：
B is correct. The equity risk premium estimate based on the GGM equity risk premium approach is calculated as:
GGM equity risk premium estimate = Dividend yield on the market index based on one-year-ahead aggregate forecasted dividends and aggregate market value + consensus long-term earnings growth rate – current long-term government bond yield
GGM equity risk premium estimate = 2.3% + 5.9% − 2.8% = 5.4%
课后题中的上一道题,计算erp用ggm的方法，当中用的rf是无风险收益率。而这道题中用的是当期长期债券收益率。 是不是题目中如果没给这个收益率的话，如果要ggm的方法，就用无风险收益率来替代？
