The theory of the capital assets pricing model(CAPM) is an important theory in a modern company s finance and is widely used in capital market.
资本资产定价模型理论是现代公司财务中一个非常重要的理论 ,在资本市场中得到广泛的应用。
Empirical research on capital asset pricing in Shanghai Stock Market;
上海证券市场资本资产定价的实证研究
The study shows that: 1) the measurement method of beta has influence on the outcomes of the tests of the standard CAPM; 2) the systematic risk is not the only factor that influences the rate of returns in Shanghai stock market, which has size effect as those western mature sto.
回顾了资本资产定价理论与实证的互动发展脉络 ,采用横截面方法对上海股票市场资本资产定价的因素进行分析 ,研究表明 :1β系数的测量方法对 CAPMs的检验结果产生影响 ;2在上海股票市场系统风险并不是影响收益率的唯一因素 ,同西方成熟股票市场一样 ,上海股市存在“规模效应”。
For the liquidation problem of a capital asset,investors have to consider the impact of both the variance of market price and liquidity.
在资本资产出清问题中,投资者需要同时考虑市场价格变化与流动性的影响。
A brief introduction to the content, methods and results of the capital assets pricing theory in continuous time setting is presented in the paper, and the open problems as well as future trend of the area are also reviewed.
对连续时间资本资产定价理论的研究内容、方法和结果作了初步的介绍,并对这一领域中存在的问题及最新研究方向进行了简单的综合评述。
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