Equity Premium Puzzle - EPP

An phenomenon that describes the anomalously higher historical real returns of stocks over government bonds. The equity premium, which is defined as equity returns less bond returns, has been about 6% on average for the past century. It is supposed to reflect the relative risk of stocks compared to "risk-free" government bonds, but the puzzle arises because this unexpectedly large percentage implies a suspiciously high level of risk aversion among investors.

|||The equity premium puzzle is a mystery to financial academics. According to some academics, the difference is too large to reflect a "proper" level of compensation that would occur as a result of investor risk aversion; therefore, the premium should actually be much lower than the historic average of 6%.

More recent extensions to the puzzle attempt to offer a different rationale for explaining the EPP, such as investor prospects and macroeconomic influences. No matter the explanation, the fact remains that investors are being rewarded very well for holding equity compared to government bonds.





投融网(www.ipo.hk)创建于2011年，
专业的企业上市孵化器，
助力专精特新，赋能细分行业独角兽。

财务税务：代理记账   财务规划   税务筹划
法律合规：公司合规   法律纠纷   ipo上市法务
知识产权：注册商标   专利申请   品牌策划
数字智能：网站建设   智能软件   公众号小程序
宣传推广：B2B平台   SEO优化   媒体财经公关
跨境海外：红筹架构   跨境基金   家族信托保险
政府招商：园区规划   园区招商   产业集群生态
资本运作：产业基金   融资策划   商业计划书
上市服务：前期规划   上市辅导   定增并购在融资


融资、融智、融技、融人才、融政策

从成立到上市，投融网提供一站式服务平台，注册成为平台会员可以发布企业产品和服务信息，推广企业品牌；对接券商、会计师事务所、律师事务所、软件开发公司、知识产权服务机构；对接企业投融资与上市信息、并购重组投行业务信息；在线结识更多人脉，构建投融资与上市服务生态圈。

    欢迎各类机构洽谈合作。

邮箱：service@ipo.hk
电话：0755-33572246