为什么要重新算一个g？

NO.PZ2023032701000057

问题如下：

Palmetto Steel, Inc. (PSI) maintains a dividend payout ratio of 80 percent because of its limited opportunities for expansion. Its return on equity is15 percent. The required rate of return on PSI equity is 12 percent, and its long-term growth rate is 3 percent. Compute the justified P/B based on forecasted fundamentals, consistent with the residual income model and a constant growth rate assumption.

选项：

1.33

1.55

1.68

解释：

With g = b × ROE = (1 -0.80) (0.15) = (0.20) (0.15) = 0.03,

P/B = (ROE-g)/(r - g)= (0.15 - 0.03)/(0.12 - 0.03)= 0.12/0.09 = 1.33

P/B = 1 + (ROE - r)/(r - g)= 1 + (0.15 - 0.12)/(0.12 - 0.03)= 1.33

为什么要重新算一个g？

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王园圆_品职助教 · 2024年04月22日

同学你好，不用算的

这里的g=ROE*b的这个计算过程，应该是解析多此一举了，同学直接忽略就好了

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NO.PZ2023032701000057 问题如下 Palmetto Steel, In(PSI) maintains a vinpayout ratio of 80 percent because of its limiteopportunities for expansion. Its return on equity is15 percent. The requirerate of return on PSI equity is 12 percent, anits long-term growth rate is 3 percent. Compute the justifieP/B baseon forecastefunmentals, consistent with the resiincome mol ana constant growth rate assumption. A.1.33 B.1.55 C.1.68 With g = b × ROE = (1 -0.80) (0.15) = (0.20) (0.15) = 0.03,P/B = (ROE-g)/(r - g)= (0.15 - 0.03)/(0.12 - 0.03)= 0.12/0.09 = 1.33OrP/B = 1 + (ROE - r)/(r - g)= 1 + (0.15 - 0.12)/(0.12 - 0.03)= 1.33 为什么分子不用乘以（1+g），计算的是RI1还是RI0?

2023-09-19 23:45 1 · 回答

为什么要重新算一个g？

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