利用市盈率的长期增长预期测度股市泡沫

本文根据EBO模型建立了与实体经济发展相对应的理论市盈率模型 ,对模型中各项指标关系的分析可以发现股市是否存在泡沫。进而 。

Base the Edwards-Bell-Ohlson model we get a function in which P/E ratio serves as long-run development indicator.If the theoretical P/E ratio that corresponding to the microeconomics were got,the bubbles of the stock market can be measured subsequently.