问题如下图：
选项：
A. 
B. 
C. 
解释：
为什么CF增加不会使得price increase呢？
NO.PZ2015121810000026 问题如下 All else equal, whiof the following woulmost likely explain the fall in priof a particulcompany’s shares? A.The expecteinflation rate falls. B.The company’s future cash flows are expecteto increase. C.The yielto maturity on refault-free investments rises. C is correct.Accorng to the funmentpricing equation, the market value of asset is affecteeconomic factors thaffethe asset’s expectefuture cash flows, fault-free interest rates, expecteinflation rates or the asset’s risk premium. From Equation 1 in Section 2.1, expectecash flows are in the numerator, while expecteinflation anthe rerisk-free rate are in the nominator. Consequently, a rise in the rerisk-free rate (the yielto maturity on a fault-free instrument) will leto a fall in the priof a risky asset like stoincreasing the rate whiits cash flows are scounte 考点Equities anThe Equity Risk Premium解析股票的价格和债券一样，也可以通过未来现金流折现求和计算。expecteinflation rate 影响的是分母折现率，通货膨胀率下降，分母变小，股票价格变大。 future cash flows影响的是分子未来现金流，分子变大，股票价格变大。 yielto maturity on refault-free investments 影响的是分母折现率，分母变大，股票价格变小。因此选 “yielto maturity on refault-free investments ”这个部分是什么含义？具体如何影响到股价？
NO.PZ2015121810000026问题如下All else equal, whiof the following woulmost likely explain the fall in priof a particulcompany’s shares?A.The expecteinflation rate falls.B.The company’s future cash flows are expecteto increase.C.The yielto maturity on refault-free investments rises.C is correct.Accorng to the funmentpricing equation, the market value of asset is affecteeconomic factors thaffethe asset’s expectefuture cash flows, fault-free interest rates, expecteinflation rates or the asset’s risk premium. From Equation 1 in Section 2.1, expectecash flows are in the numerator, while expecteinflation anthe rerisk-free rate are in the nominator. Consequently, a rise in the rerisk-free rate (the yielto maturity on a fault-free instrument) will leto a fall in the priof a risky asset like stoincreasing the rate whiits cash flows are scounte 考点Equities anThe Equity Risk Premium解析股票的价格和债券一样，也可以通过未来现金流折现求和计算。expecteinflation rate 影响的是分母折现率，通货膨胀率下降，分母变小，股票价格变大。 future cash flows影响的是分子未来现金流，分子变大，股票价格变大。 yielto maturity on refault-free investments 影响的是分母折现率，分母变大，股票价格变小。因此选Cfall in pri是什么意思
NO.PZ2015121810000026 请问为什么higher inflation expectation会导致hight P/E?
