【摘要】 在阐述股权风险溢价必要性的基础上,分别利用几何平均方法、DDM模型和盈利增长模型对我国沪深两市1997～2001年期间A股股票的风险溢价进行了测算。结果表明,我国A股股票的实际风险溢价为负,股票市场存在较大的投机性泡沫。更多还原

【Abstract】 Based on equity risk premium theory, we estimated risk premium of A shares in the Chinese stock market with geometrical mean, DDM and earning growth model. Our research showed that the real risk premium of A shares was negative and there speculate bubbles in the Chinese stock market during 1997～2001.更多还原