[Equity]Residual Income Model(잔여이익 모형) - 1

0. Residual Income(잔여이익) $$RI = NI - \text{ a charge(deduction) for common shareholders' opportunity cost in generating } NI$$ Residual or remaining income after considering the costs of all of a company's capital. Total equity가 아니라 common share의 equity valuation의 경우 NI 대신 EPS를 이용하기 때문이다. 1. Model $$ V_0 = B_0 + \sum^{\infty}_{t=1}\frac{RI_t}{(1+r)^t} = B_0 + \sum^{\infty}_{t=1}\frac{E_t - rB_{t..

2021.08.20