投资学第10版习题答案06.docxVIP

投资学第10版习题答案06 ***** 6: ***** *****ION TO RISKY ASSETS ***** SETS 1. (e) The first two answer choices are incorrect because a highly risk averse investor would avoid portfolios with higher risk premiums and higher standard deviations. In addition, higher or lower Sharpe ratios are not an indication of an investors tolerance for risk. The Sharpe ratio is simply a tool to absolutely measure the return premium earned per unit of risk. 2. (b) A higher borrowing rate is a consequence of the risk of the borr owers’ default. In perfect markets with no additional cos