Mehra与Prescott在1985年发表了经典文献《股权风险溢价,一个谜》,掀起了一场旷日持久的股权风险溢价研究与争论高潮。所谓股权风险溢价之迷,就是历史上股票回报率为何长期大幅度超过无风险资产利率。对股权风险溢价的研究是商业价值评估理论中的基础性研究,有重要的理论和现实 Mehra and Prescott published the classic article Equity Risk Premium, a Riddle, in 1985, setting off a protracted study and controversy over equity risk premiums. The so-called fans of equity risk premium, is the history of the stock rate of return for much longer than the long-term risk-free asset interest rates. The research on the equity risk premium is a basic research in the theory of business value assessment. It has important theory and reality