ERP是市场风险溢价

NO.PZ202210140200000102 问题如下 equity inx is establishein Ye1 for a country thhrecently moveto a market economy. The inx venr constructereturns for the four years prior to Ye1 baseon the initigroup of companies constituting the inx in Ye1. From Ye12 to Ye16, a series of military confrontations concerning a sputeborr sruptethe economy anfinancimarkets. The spute is conclusively arbitratethe enof Ye16. In total, 20 years of equity market return history is available. Other selecteta are in the following tables. The events of 2012 to 2016 woulexpecteto: A.bithe historicERP estimate upwar B.bithe historicERP estimate wnwar C.have no effeon the historicERP estimate B is correct. The events of Ye12 through Ye16 presseshare returns but (1) are not a persistent feature of the stomarket environment, (2) were not offset other positive events within the historicrecor an(3) have leto relatively low valuation levels, whiare expecteto reboun 另一个问题里经济衰退ERP升高 https://class.pzacamy.com/qa/122411这个问题里战争摧毁经济 ERP降低。不矛盾么？

NO.PZ202210140200000102问题如下 The events of 2012 to 2016 woulexpecteto: A.bithe historicERP estimate upwar.bithe historicERP estimate wnwar.have no effeon the historicERP estimate B is correct. The events of Ye12 through Ye16 presseshare returns but (1) are not a persistent feature of the stomarket environment, (2) were not offset other positive events within the historicrecor an(3) have leto relatively low valuation levels, whiare expecteto reboun 这种情况下是不是也有公司因为太差而关闭，没有纳入指数的考虑，导致高估呢？

NO.PZ202210140200000102问题如下 The events of 2012 to 2016 woulexpecteto: A.bithe historicERP estimate upwar.bithe historicERP estimate wnwar.have no effeon the historicERP estimate B is correct. The events of Ye12 through Ye16 presseshare returns but (1) are not a persistent feature of the stomarket environment, (2) were not offset other positive events within the historicrecor an(3) have leto relatively low valuation levels, whiare expecteto reboun rm市场收益率，因为战争因素，市场风险增加，所以对rm的要求回报率上升，所以rm不是应该增加才对吗

NO.PZ202210140200000102问题如下 The events of 2012 to 2016 woulexpecteto: A.bithe historicERP estimate upwar.bithe historicERP estimate wnwar.have no effeon the historicERP estimate B is correct. The events of Ye12 through Ye16 presseshare returns but (1) are not a persistent feature of the stomarket environment, (2) were not offset other positive events within the historicrecor an(3) have leto relatively low valuation levels, whiare expecteto reboun 这道题没看懂，能下吗？