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PJ-John · 2020年03月13日

问一道题:疑问country risk rating model

问题如下:

A Canadian company in the consumer staples sector with a required rate of return of 7.35%. Recent media reports suggest that ABC might be a takeover candidate. Peters and her team estimate that if a new government takes office in Canada, then the ABC will likely grow by 3.5% indefinitely.

If Peters and her team use the Gordon growth model and assume that Company ABC stock is fairly valued, then which of the following would most likely be true? 


选项:

A.

The total return of ABC stock will be 10.85%. 

B.

The dividend yield of ABC stock will be 3.85% 

C.

The stock price of ABC will grow at 7.35% annually 

解释:

In the Gordon growth model, Total return = Dividend yield + Capital gains yield (i.e., constant growth rate). When a stock is fairly valued, the expected total return will equal the required return or discount rate (i.e., 7.35%). In the case of ABC, the total return is 7.35% and the capital gains yield is 3.5%. Therefore, the dividend yield is 7.35% – 3.5% = 3.85% 

country risk rating model中,书中是以发达国家的ERP为因变量,风险评级为自变量的回归,感觉老师视频里讲的和书中不一样啊

1 个答案

Debrah_品职答疑助手 · 2020年03月14日

同学你好。原版书说的是The country risk rating model approach uses risk ratings for developed markets to infer risk ratings and equity risk premiums for emerging markets。意思是这个模型利用的是发达国家的风险评级(自变量)去推导发展中国家的风险评级和ERP(因变量)。和李老师上课说的意思是一样的。

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