如何计算C A P M
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Capital Asset Pricing Model calculates required return: r = r_f + β(r_m - r_f). Links stock risk to expected return.
分步指南
- 1Input risk-free rate, market return, security beta
- 2Calculate required return using CAPM
- 3Compare to expected return for investment decision
例题解析
输入
r_f=2%, market=10%, β=1.5
结果
Required return = 2% + 1.5(8%) = 14%
High risk, high return required
常见错误注意事项
- ✕Using incorrect risk-free rate
- ✕Assuming β stable
- ✕Neglecting small-stock premium
常见问题
Is CAPM universally accepted?
Useful but debated; assumptions questioned by many academics.
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