【中山大学431金融 罗斯 公司理财】Ch012.pdfVIP

Chapter 12: Risk, Cost of Capital, and Capital Budgeting 12.1 The discount rate for the project is equal to the expected return for the security, R , since the project has the same risk as the firm as a whole. Apply the CAPM to S express the firm’s required return, R , in terms of the firm’s beta, , the risk-free S rate, R , and the expected market return, R . F M R = R +   ( R – R )