wyrw · 2025年06月18日
* 问题详情，请 查看题干
NO.PZ201512300100000801
问题如下：
1. Which of the following is closest to Rae’s estimate of the stock’s value?
选项：
A.$10.08.
B.$10.54.
C.$10.62.
解释：
C is correct.
Using the Gordon growth model,
$$V_0=\frac{D_1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$
本题解题过程的详细解释
王园圆_品职助教 · 2025年06月19日
同学你好，本题就是用
”Further, he expects the moderate growth rate of the company to persist and decides to use the Gordon growth model.
Rae uses the CAPM to compute the return on equity. He uses the annual yield of 4 percent on the 10-year Treasury bond as the risk-free return. He estimates the expected US equity risk premium, with the S&P 500 Index used as a proxy for the market, to be 6.5 percent per year. The estimated beta of Tasty Foods against the S&P 500 Index is 1.10. Accordingly, Rae’s estimate for the required return on equity for Tasty Foods is 0.04 + 1.10(0.065) = 0.1115 or 11.15 percent.
Using the past growth rate in dividends of 5.30 percent as his estimate of the future growth rate in dividends, Rae computes the value of Tasty Foods stock.“
这里的内容进行计算的
表格里给了08年的最新的分红，也就是D0 = 0.59，然后利用GGM和粉色部分的g = 5.3%,Re = 11.15%
答案就是V０＝0.59＊（１＋5.3％）／（１１．１５％－５．３％）＝１０．６２
NO.PZ201512300100000801 问题如下 1. Whiof the following is closest to Rae’s estimate of the stock’s value? A.$10.08. B.$10.54. C.$10.62. C is correct.Using the Gorn growth mol,$$V_0=\frac{1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$ 老师有些晕，何时直接取S作为vin 何时需要用Earnings*S=vin请举例，谢谢
NO.PZ201512300100000801 问题如下 1. Whiof the following is closest to Rae’s estimate of the stock’s value? A.$10.08. B.$10.54. C.$10.62. C is correct.Using the Gorn growth mol,$$V_0=\frac{1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$ 按照g=ROE*已知0.278，b=1-0.722， g=5.3%，roe算出来应该是7.34%，为什么答案里面的是11.15%
NO.PZ201512300100000801 问题如下 1. Whiof the following is closest to Rae’s estimate of the stock’s value? A.$10.08. B.$10.54. C.$10.62. C is correct.Using the Gorn growth mol,$$V_0=\frac{1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$ 老师，这道题目中g用的是5.3%，题目中给的是这样一句话“The vinpayout ratio hremainefairly stable anvin have increaseaverage rate of 5.30 percent.”1、我对g的理解是earning分红后（也就是减去vin）的增长率。2、题目中这句话讲的是分红率不变，分红每年以5.3%的速度增长，所以可以推导出g（留存未分红部分）是以5.3%在增长，否则分红率就不是恒定不变了。请问我这个推导g的思路对吗老师？3、如果是这样的话，那earning岂不是也在以5.3%速度增长吗？老师，请问我上述3条理解是否正确，谢谢。
NO.PZ201512300100000801 问题如下 1. Whiof the following is closest to Rae’s estimate of the stock’s value? A.$10.08. B.$10.54. C.$10.62. C is correct.Using the Gorn growth mol,$$V_0=\frac{1}{r-g}=\frac{0.59(1+0.0530)}{0.1115-0.0530}=\$10.62$$ 老师，答案显示的是乱码，能否再把答案写一次
