Cost of Capital Survey - Equity Risk Premium

Yes

If you answered "no" please explain why.

Historical approach (ex post), which uses prior years' return data to estimate future expected returns.

Implied approach (ex ante), which is a forward-looking estimate developed by examining stock prices today and expected cash flows in the future

Survey approach, which solicits information from investors about the returns they expect

Not applicable (don't use an ERP)

Other (please describe)

Long-term historical ERP (1926-current)

Long-term supply-side ERP (1926-current)

Long-term historical ERP minus WWII interest rate bias

Historical ERP (1963-current)

Conditional ERP (historical data adjusted for current economic conditions)

Not applicable

Other (please specify)

Duff and Phelps Recommended ERP

Prof. Aswath Damodaran (NYU)

Use an internally developed model.

Not applicable

Other (please specify)