RiskandCapitalBudgeting幻灯片.pptVIP

Risk and Capital Budgeting;Chapter Outline;Definition of Risk in Capital Budgeting;Variability and Risk;The Concept of Risk-Averse;Actual Measurement of Risk;Profitability Distribution with Differing Degrees of Risk;Profitability Distribution with Differing Degrees of Risk (cont’d);Risk measure — beta (β);Betas for Five-Year Period (Ending January 2006);Increasing Risk over Time;Qualitative Measures;Risk Categories and Associated Discount Rates;Example: Risk-adjusted Discount Rate;Capital Budgeting Analysis;Capital Budgeting Decision Adjusted for Risk ;Simulation Models;Simulation Models (