問(wèn)題已解決
老師,您好,幫忙看下案例6,第四問(wèn)的c股票的市場(chǎng)價(jià)值 我不明白為什么第三期要乘以二期的現(xiàn)值系數(shù)
![](https://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
![](/wenda/_nuxt/img/iconWarn.60bd4fe.jpg)
學(xué)員你好,稍等一下哈
2022 03/20 09:14
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:15
希望可以幫到你哦
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:16
老師,您好,為什么除以1+28%的平方,我一直覺得應(yīng)該是三次方
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:18
因?yàn)橹竽甓日郜F(xiàn)后到達(dá)的是第二年年末,第三年年初哦,所以折現(xiàn)期是兩年哦
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:19
你看下,老師
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:29
老師,我哪里理解不了了
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:29
我哪里理解錯(cuò)了
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:30
不對(duì)的哦,你想一下永續(xù)股利的模型,那個(gè)沒有折現(xiàn),這個(gè)兩年增長(zhǎng),就應(yīng)該折現(xiàn)兩年哦
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:31
建議你按照原始定義,運(yùn)用等比公式推到一下哦,是兩年噠
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:31
為什么說(shuō)之后年度折現(xiàn)后到達(dá)的是第二年末呢
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:35
你可以推導(dǎo)試試哦,公式計(jì)算的結(jié)果哦,如果推導(dǎo)過(guò)程有疑問(wèn)可以繼續(xù)問(wèn)哦
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:40
老師,我看了一下股利增長(zhǎng)模型,分子是用的下一年的股利計(jì)算出來(lái)的當(dāng)前股價(jià),這樣說(shuō)的話,他應(yīng)該是第二期期末了,我理解的對(duì)嗎
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 09:45
是的哦,用這個(gè)模型理解是對(duì)的哦
![](http://member.chinaacc.com/homes/resources/images/home/avatar/1.jpg)
84785021 ![](/wenda/_nuxt/img/reply1.d92ea43.png)
![](/wenda/_nuxt/img/reply1.d92ea43.png)
2022 03/20 09:54
好的謝謝
媛媛 ![](/wenda/_nuxt/img/reply2.28c7604.png)
![](/wenda/_nuxt/img/reply2.28c7604.png)
2022 03/20 10:26
不用謝哦,記得給老師評(píng)價(jià)一下哦
![](/wenda/img/newWd/sysp_btn_eye.png)