1.The market risk premium is the difference between the historical return on the stock market and the risk-free rate , for every year. why is it negative for some years?

2.Is it correct results' capitalization" which, according to the Institute of Accounting and Auditing (ICAC), represents the to say that the value of the shares is the "value of the" book value of shareholder's equity, corrected by increases or increasing in value which could be demonstrated, in the case of the goods, rights and obligations of the company at the reference date?"

3.Is it correct results' capitalization" which, according to the Institute of Accounting and Auditing (ICAC), represents the to say that the value of the shares is the "value of the" the sum of the expected future results of the company during a certain period, discounted at the moment of the valuation?"

4.Is it true that a company creates value for its shareholders during a year if it distributes dividends or if the quotation of the shares increases?

5.The ROE ( return in equity)is the ratio between net income and shareholder's equity .The maning of ROE is return to shareholders .consequently, is ROE a correct return to shareholders?

6.Regarding the WACC that has been applied to the project should it be an expected return, an opportunity cost or an average historical return on similar projects?

7.Could we assume that, as we cannot predict the future evolution of the value of shares, a good approximation could be to consider it constant during the next five years?

8.The reasonable thing to do is to finance reasonable assets (collections, inventories) with short term text and fixed assets with long term debt. Is this correct?

9.Is the market risk premium a parameter for the national economy or for the world economy?

10.The market risk premium is the difference between historical returns on the stock market and the return on bonds. But how many years does "historical" imply? sall we use arithmetic means or geometric one?