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股票风险溢价 - Gupiao fengxian yijia
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。国库券为政府发行的短期债券,风险极低,其回报率被视为可代表无风险投资回报率。
Equity Risk Premium
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. Treasury bills are regarded as risk free because they are guaranteed by the government.
