股票风险溢价

我们对“股票风险溢价”的研究似乎表明，由于“欧元尾部风险”，市场可能正给gdp“灾难情形”赋予并非微不足道的几率。

Our research into the " equity risk premium " suggests that markets may be assigning a non-trivial probability to a " disaster scenario " for GDP as a result of " Euro tail risk " .

股票风险溢价股票市场为弥补市场风险，相对无风险率的额外回报。

Equity risk premium the extra return that the stock market provides over the risk free rate to compensate for market risk .

对我国是否存在股票风险溢价问题进行实证检验；

An empirical study on equity premium in China .

他早在1924年就意识到，相对于债券，股票风险溢价使得投资股票应会获得长期的超额回报。

As early as 1924 , he had realised that the risk premium on equities should provide a long-term excess return on equities relative to bonds , when the conventional wisdom was the opposite .

想象这样一家简单的公司：其销售额增长为3%，自由现金流为400万美元，股票风险溢价为5%，贝塔系数为1，而且无债务。

Consider a simple company growing sales at 3 per cent , making free cash flow of $ 4m with an equity risk premium of 5 per cent , a beta of 1 , and no debt .

美国股市平均估值显示的实际回报率为6.5%至7%，这意味着大约4个百分点的“股票风险溢价”回报率与无风险政府债券收益率之差。

The average valuation of the US stock market corresponds to a real return of 6 ? - 7 per cent , which implies an " equity risk premium " a margin of return over risk-free government bonds of about 4 percentage points .

他认为，这两个资金来源的风险厌恶程度正在变低，最终可能降低股票的风险溢价，从而再次推高估值。

He argued that the two capital sources were becoming less risk averse , which is ultimately likely to reduce the equity risk premium and therefore push up valuations again .

股票市场风险溢价不仅在投资管理和公司财务决策中起着重要的作用，而且是很多金融理论模型的输入参数。

Market risk premium plays an important role not only in asset management , but also in corporate financial decisions , and it is an input parameter of many financial theory models .

本文在借鉴国际计算方法的基础上，对我国股票市场的风险溢价水平进行了全面的测算。

Based on internationally well-accepted methods , we calculate the market risk premium of China 's stock market .

一支股票的期望风险溢价受因素或者宏观经济风险的影响；它不会受独有风险的影响。

The expected risk premium on a stock is affected by factor or macroeconomic risk ; it is not affected by unique risk .

其次，鉴于上述理论在国外良好的实用性，我们进一步讨论这些国外的理论在研究中国股票市场股权风险溢价时的实用性，并得出这些理论应用于中国股票市场的局限性；

Secondly , whereas these theories are applied very well abroad , I will discuss the practicability of these theories when we use in Chinese stock market , then I will draw a conclusion that there is some localization when these theories are applied in Chinese stock market .

流动性是证券交易面临的重要风险来源，影响市场价格的不确定性，流动性差的股票拥有较高的风险溢价以吸引投资者。

The main risk faced by the security trade comes from illiquidity , which makes market more uncertain and illiquid stock hold high risk premium to attract the investor .

为补偿投资者所冒的市场风险，股票投资的回报率必须高于国库券，高出的幅度即称为股票风险溢价。

The extra return that the overall stock market or a particular stock must provide over the rate on treasury bills to compensate for market risk .