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- 2011-7-11
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- 2014-8-6
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maratikus Wrote:
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> good explanation, disptra.
>
> another formula that is helpful is
>
> P/B = (ROE-g)/(r-g) = (ROE-r+r-g)/(r-g) = 1 +
> (ROE-r)/(r-g)
>
> P/B > 1 if ROE > r
Nice. This proves when there is dividend RI model and GGM model are same.
It seems the key assumption to make these 2 equal is g = b * ROE, everything else is by definition. |
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发表于 2011-9-21 15:13
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