《金融学教学课件》bodie2e_chapter13复习课程.pptVIP

Copyright ? 2009 Pearson Education, Inc. Publishing as Prentice Hall Comment: b 3 1 A security with a b 3 1 on average rises and falls more than the market With a b = 1.3, a 10% (say) unexpected rise (fall) in the market return premium will, on average, result in a 13% rise (fall) in the security’s return premium Such a security is said to be aggressive Comment: b ￡ 1 A security with a b ￡ 1 on average rises and falls less than the market With a b = 0.7, a 10% (say) unexpected rise (fall) in the market return premium will, on average, result in a 7% rise (fall) in the security’s return pre