| Autor: Katarzyna Byrka-Kita | 199 |
Strony: 199-209
pełen tekst
RENUMERATION FOR TAKING THE MARKET RISK PREMIUM – EX-ANT APPROACH
The article discusses ex-ante approach to the equity risk premium estimation. According to the research results quoted in the paper it is possible to draw the conclusion that historical equity risk premium calculated by means of traditional approach is much higher than the implied risk premium. Moreover the ex-ante estimates of the equity risk premium are consistent with the results of the questionnaire conducted among American institutional investors and opinions expressed by the prestigious scientists. On the other hand there are many opponents of this approach, who present arguments which are difficult to be refuted.
pełen tekstRENUMERATION FOR TAKING THE MARKET RISK PREMIUM – EX-ANT APPROACH
The article discusses ex-ante approach to the equity risk premium estimation. According to the research results quoted in the paper it is possible to draw the conclusion that historical equity risk premium calculated by means of traditional approach is much higher than the implied risk premium. Moreover the ex-ante estimates of the equity risk premium are consistent with the results of the questionnaire conducted among American institutional investors and opinions expressed by the prestigious scientists. On the other hand there are many opponents of this approach, who present arguments which are difficult to be refuted.