财务管理(英文第十三版)ch5_shen.pptxVIP

Chapter 5;Risk and Return;Defining Return;Return Example;Return Example;Defining Risk;;;;;;;Discrete vs. Continuous Distributions;Determining Expected Return (Continuous Dist.);;Normal Probability Distribution;Z-score;Certainty Equivalent (CE) is the amount of cash someone would require with certainty at a point in time to make the individual indifferent between that certain amount and an amount expected to be received with risk at the same point in time.;Certainty equivalent Expected value Risk Preference Certainty equivalent = Expected value Risk Indifference Certainty equivalent Expected