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- 2011-7-11
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- 2013-8-19
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Price=Earnings at t=1*(1-Earnings Retention ratio)/(CAPM-ROE*Earnings retention Ratio)
the same as
Price=Earnings at t=0*(1+ROE*Earning retention Ratio)*(1-Earnings retention Ratio)/(CAPM-ROE*Earnings Retention Ratio)
Price/Earnings at t=1 =(1-Earnings Retention Ratio)/(CAPM-ROE*Earnings retention Ratio)
I used the simple CAPM as a arbituary measure of required return. There are many many others. |
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发表于 2011-7-13 15:25
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