关于全球股市的一个问题

[jiuliumuliao]

观察了一下游戏里的全球股市发现一个问题。有些股票的派息有些高的离谱，有大概五、六支股票（我只截了三张图）的每股股息超过每股收益。其中最高的埃克森股价61.02，股息生息率4.87%，也就是每股派息约2.97，而其每股收益只有1.93，每股股息是收益的153%。我认为全球股市里的上市公司都是知名大企业，不至于需要用这么高的股息来吸引投资吧。我不是金融专业的，不知道我的理解和计算方法是否有误。如果我的理解无误的话，制作组是否考虑进一步优化一下全球股市？

[David]

We will investigate the problem.

Could you please provide us with your save game file and let us know the following?
1) Which version of Capitalism Lab you are using. You can see the version number on the top-right of the main menu.
2) If your savegame uses a MOD, please let us know the name of the MOD and the MOD's version number.

You can find save game files of Capitalism Lab from:
C:\Users\<your user name>\Documents\My Games\Capitalism Lab Post-Release Beta\SAVE

You may provide us with your save game file by posting it here on the forum as a ZIP file attachment or emailing the save game file to us at info@enlight.com.

If your save game file is too large for attachment, you may check out this post about how to send us large files: https://www.enlight.com/forum/viewtopic.php?f=13&t=2473

[jiuliumuliao]

mod和存档已通过邮件发出。

[David]

I loaded your save game and ran it for a year and saw the dividend yield of Exxon normalized to around 3%.

[jiuliumuliao]

I loaded your save game and ran it for a year and saw the dividend yield of Exxon normalized to around 3%.

谢谢你，大卫。之后我又试验了一下我的存档，在股息生息率4.87%时，也就是游戏里我存档的那一天购买埃克森股票，到第二年一月三号派息时每股股票收到的股息即是每股收益（801942/414649=1.93），每股净值不变。其他的按照股息生息率乘以股价计算所得股息大于每股收益的股票在一月三号派息时也是只派发全部收益，每股净值不变。这样就会产生一个问题，玩家购买股票时股息生息率表示每股派息会超过收益但实际并不会，虚高的股息生息率会误导玩家。制作组能否做出一些改变？我建议全球股市应该给出每一只股票的股息支付率（即每股股息占收益的比例），股息支付率每年根据经济状况以及公司盈利状况在一定区间内变动一次。股息生息率根据股息支付率计算，即股息生息率=（股息支付率*每股收益）/股价。这样就不会出现虚高的股息生息率误导玩家了。

[David]

The dividend yield displayed on the stock market is the historical one, meaning that it is based on the last dividend paid to shareholders, not the upcoming one. This is in line with the real world stock market, where the dividend yields you see in real world stock market are calculated based on the last dividend payment.

[jiuliumuliao]

The dividend yield displayed on the stock market is the historical one, meaning that it is based on the last dividend paid to shareholders, not the upcoming one. This is in line with the real world stock market, where the dividend yields you see in real world stock market are calculated based on the last dividend payment.

麻烦你了，大卫。我大概理解了，股息生息率虚高的原因是当前每股收益下降或者股价下跌了。那之后的全球股市能否给出上一次分红时或者近几次分红时的每股收益的信息？如果知道公司盈利的变化，也许就不会被误导了。另外，Chevron、Exxon、Pfizer和General Electric这四支股票的股息支付率一直是100%，收益全部分红，每股净值完全不变，是否应该降低它们的股息支付率，或者使它们的股息支付率几年变更一次？