资产定价模型-第1篇.docxVIP

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资产定价模型

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第一部分资产定价理论基础

在金融经济学领域，资产定价模型（AssetPricingModels,APMs）构成了资产价值评估和风险管理的基础框架。这些模型旨在解释资产收益率的决定因素，并揭示资产价格与风险之间的内在关系。资产定价理论基础主要建立在现代投资组合理论（ModernPortfolioTheory,MPT）、有效市场假说（EfficientMarketHypothesis,EMH）以及资本资产定价模型（CapitalAssetPricingModel,CAPM）等核心理论之上。

#一、现代投资