以下是引用wzaina在2009-3-5 10:05:00的发言：
LOS g: Discuss international considerations in required return estimation.
Q1. When attempting to build a risk premium into the required returns of stocks in a developing country, an analyst should use the:
A) country spread model.
B) modified Gordon Growth model.
C) country’s weighted average cost of capital.
Q2. Candace Elwince is attempting to calculate the required return of Skeun Inc., a machine-tool manufacturer in a small Eastern European company. Elwince has solid data from the German market but is not sure how to account for the exchange-rate risk Skeun investors would face. Her best choice for creating a risk premium is the:
A) difference between the bond yields of both markets.
B) Gordon Growth model.
C) difference between the inflation rates of both markets.
Q3. Junior analyst Quentin Haggard is struggling with a required return calculation. His main concern is compensating for exchange rate fluctuations between the country where his company is based and the home country of a portfolio of stocks he is analyzing. Haggard should calculate the return in his home country’s currency, then adjust:
A) for expected changes in the foreign country’s inflation rate.
B) for expected changes in the foreign country’s currency value.
C) the beta to account for exchange-rate fluctuations.
Q4. The country risk rating model:
A) determines a risk premium for an emerging market.
B) determines a risk premium for any foreign market.
C) depends on forecasts of exchange rates.
发表于 2009-5-23 17:51
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