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nzh · 2019年01月10日

Equity r29 2 stage 折折现

问题如下图:

    

选项:

A.

B.

C.

解释:


请问为什么最后算v0的时候的分母是4次方而不是5次方?不是第5年吗?

1 个答案
已采纳答案

maggie_品职助教 · 2019年01月11日

答案是对第4年的终值进行折现,所以是折现4年。分子和分母一定要匹配。

这道题告知我们股息从第5年开始发,之后以稳定的速度永续增长。那么我们就可以用GGM来计算第4时刻的股票价值。

加油。

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