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发表于 2009-5-15 10:18 | 只看该作者

A QUESTION FROM MOCK

interest, growth, second, should, price

10% rate of interest on newly issued bonds,

7% growth rate in earning and dividends,

last dividend paid was 0.93,

share price 16 ,

use DDM , what is R ?

I use p=d/(r-g) is not right ,

seems I should use P= d*(1-g)/(r-g) P=D*(2-g)/(r-g) ,

not sure when should i use the second fomular and when should i use the first one ?

THANKS

[此贴子已经被作者于2009-5-15 10:20:01编辑过]

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发表于 2009-5-15 13:22 | 只看该作者

P0=16,D1=0.93×（1+7%）×（1+7%）=1.065

这样算R吧，

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发表于 2009-5-15 18:36 | 只看该作者

为什么要用1-g啊？

last dividend就是D0=0.93，那么D1=0.93*（1+0.07）

R=D1/P0+g=13.2%

对吗？

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发表于 2009-5-15 23:48 | 只看该作者

I agree with arays

上一主题：covariance(A,B)=(beta of A) × (beta of B) × (Variance of market)

下一主题：有没有谁有2009 level 2 的sample呀？