《指数模型.pptVIP

资本资产定价模型与指数模型The CAPM and the index model 资本资产定价模型是关于预期收益的论断，然而实际上，任何人都可以直接观察到已实现的收益。为了使期望收益变成已实现收益，我们可以运用指数模型。我们把超额收益写成下列形式: The CAPM is a statement about expected returns, whereas in practice all anyone can observe directly are ex post or realized returns. To make the leap from expected to realized returns, we can employ the index model, which we will use in excess return form as: Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 资本资产定价模型与指数模型The CAPM and the index model 从股票 i的收益与市场指数收益之间的协方差开始我们的分析。通过定义，公司特有的或