How to Discount Cashflows with Time-Varying Expected Returns
收藏NBER2003-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10042
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资源简介：
While many studies document that the market risk premium is predictable and that betas are not constant, the dividend discount model ignores time-varying risk premiums and betas. We develop a model to consistently value cashflows with changing risk-free rates, predictable risk premiums and
提供机构：
美国国家经济研究局
创建时间：
2003-10-01
