Tammy · 2022年11月28日
NO.PZ2018091706000022
问题如下：
In the long run, which of the following factor is most likely drive stock market performance?
选项： the potential GDP.
the P/E ratio.
C.the earning to GDP ratio.
解释：
A is correct.
考点：股票市场和经济增长的关系
解析：在长期，the potential GDP growth rate equals the growth rate of aggregate equity valuation.
对于其它因素，growth rate in the P/E ratio will be zero and growth in earnings relative to GDP is zero.
选项C的the earning to GDP ratio，对应讲义上的公式dy吗？
笛子_品职助教 · 2022年11月28日
嗨，从没放弃的小努力你好：
选项C的the earning to GDP ratio，对应讲义上的公式dy吗？
并不对应
the earning to GDP ratio可以理解为：earning相对于GDP多增长的部分，近似可以写成：earning增长率-GDP增长率
这里是把%DeltaE 拆解了。
%Delta E = GDP growth rate + the earning to GDP ratio
上市公司盈利增长率 = GDP增长率 + （earning增长率-GDP增长率）
这个概念在教材正文没有涉及，是例题中出现的，所以会比较陌生。同学就借助例题和本习题，补充一下这个知识点了。
----------------------------------------------虽然现在很辛苦，但努力过的感觉真的很好，加油！
Tammy · 2022年11月28日
所以长期来看，这个是趋于0？
NO.PZ2018091706000022 问题如下 In the long run, whiof the following factor is most likely ive stomarket performance? the potentiG. the P/E ratio. the earning to G ratio. A is correct.考点股票市场和经济增长的关系解析在长期，the potentiG growth rate equals the growth rate of aggregate equity valuation.对于其它因素，growth rate in the P/E ratio will zero angrowth in earnings relative to G is zero. 老师上课讲了eps的例子我懂，但是B为啥不对呢？教材上对应哪个地方写了这个长期时，变化值为0？我记得不是说了市场的PE的volatility是一个很重要的影响因素呀
NO.PZ2018091706000022 问题如下 In the long run, whiof the following factor is most likely ive stomarket performance? the potentiG. the P/E ratio. the earning to G ratio. A is correct.考点股票市场和经济增长的关系解析在长期，the potentiG growth rate equals the growth rate of aggregate equity valuation.对于其它因素，growth rate in the P/E ratio will zero angrowth in earnings relative to G is zero. 三个影响因素不是vinyiel无关lta P/E，关系不强earning growth per share，有关系跟protentiG有什么关系？potentiG难道包含在3里面吗
NO.PZ2018091706000022问题如下 In the long run, whiof the following factor is most likely ive stomarket performance? the potentiG. the P/E ratio. the earning to G ratio. A is correct.考点股票市场和经济增长的关系解析在长期，the potentiG growth rate equals the growth rate of aggregate equity valuation.对于其它因素，growth rate in the P/E ratio will zero angrowth in earnings relative to G is zero.老师，这个结论我记住了，但是有个疑问。那按着这个逻辑，中国的股市指数价格这么低，是因为潜在g不高。感觉好像不太对。我记得和老师上课讲过这个问题，但好像不是潜在g的逻辑。
NO.PZ2018091706000022 问题如下 In the long run, whiof the following factor is most likely ive stomarket performance? the potentiG. the P/E ratio. the earning to G ratio. A is correct.考点股票市场和经济增长的关系解析在长期，the potentiG growth rate equals the growth rate of aggregate equity valuation.对于其它因素，growth rate in the P/E ratio will zero angrowth in earnings relative to G is zero. the potentiG growth rate equals the growth rate of aggregate equity valuation.
