Duff & Phelps 道衡 美国股权风险溢价 equity risk premium (ERP）和 Risk free rate 的推荐值 2008 - 2016+

（这个是旧的数据，2020年的数据在下面。）

现在还没有中国股市的ERP推荐值。

Since 1977 the valuation community has, for the most part, universally used the Ibbotson SBBI Valuation Yearbook to extract market premium and size premium data. This data went back to 1926 to develop the long term perspective of the stock market to eliminate shorter periods of volatility and stability. Informal surveys have suggested that 90% of the professionals that value private companies utilize the Ibbotson data.

The Ibbotson handbook was owned and produced by Ibbotson Associates – a private firm owned by Roger Ibbotson whose research ultimately became the Yearbook of the Cost of Capital and the Valuation Edition. In 2000, Ibbotson Associates was acquired by Morningstar. Morningstar is a leading provider of independent investment research in North American, Europe, Australia and Asia. Morningstar also publishes information from Duff & Phelps is providing the financial services industry with the new valuation handbook. Duff and Phelps is a premier global valuation and advisory services firm that has been providing such a service since 1932. Their cost of equity data includes market data from 1963 to the present day. In 2014, Morningstar discontinued Ibbotson now the valuation community will be forced to utilize the Duff and Phelps data going forward.

SBBI Valuation Yearbook 由道衡接着编辑，每年出一本。