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Risk Premium Computation

1 Earnings yield (2008)

EPS
Current stock price

2 Risk free 5 Year Treasury Bill

2.75%

Capital Asset Pricing Model


(determining cost of equity)
Adj = S&P500 Feb2008- Jan2009
Rf + (market risk premium)
= 2.75% + 0.976 (6%)
8.61%
Risk Prmium taken from
http://www.market-risk-premia.com/us.html

0.976

0.18 =
3.05

5.90%