资本资产

一是运用实物期权方法研究创业投资资本资产定价的单期模型，并推广到适应N期决策的一般模型。

First , the method of real options is used to study venture capital asset pricing model of a single period , and extended to the general model of venture capital decision-making of the N periods .

论资本资产定价模型与MM理论的相关性及其应用

The Coherency Between the Capital Asset Pricing Model and Miller 's Capital Structure Theory and its Application

a.资本资产定价模型

A. The Capital Asset Pricing Model

并购中CAPM资本资产定价模型与研究

CAPM capital price model and its study of combination and purchase

资本资产定价模型（CAPM）自创立以来得到广泛应用。

Capital Asset Pricing Model ( CAPM ) has been used widely since it came into being .

其次探讨股票收益率采用的两个模型：传统的资本资产定价模型和多要素套利定价理论，并介绍如何计算股票的VaR；

Secondly we discuss the two models of stock returns rate , CAPM and APT , and then we introduce how to calculate VaR of stock .

传统的公司金融理论体现在基于价值的管理（Value-Basedmanagement），即建立在理性行为、资本资产定价模型和有效市场三个基础之上。

Traditional corporate finance theory is based by the theory of Value-based Management , and it is built by the basis of rational behavior , CAPM theory , efficient market hypothesis .

自回归条件异方差（ARCH）类模型突破了传统计量经济分析的同方差假定，对现代资本资产定价理论产生了深远的影响。

Autoregressive conditional heteroscedasticity ( ARCH ) models , which broke though the assumption of constant variance of traditional econometrics , have had a profound influence to the modern capital asset pricing theory .

此后，威廉·夏普（WilliamSharpe）在马克威茨的均值-方差模型的基础上提出了著名的资本资产定价模型（CAPM）。

After that , William Sharpe put forward the famous capital assets price model ( CAPM ) based on Markowitz 's Mean - Variance model .

从分析CAPM（资本资产定价模型）入手，提出了用股票指数期货来对冲股票组合风险的一种方法。

Starting from CAPM ( Capital Assets Pricing Model ) analysis , a new method for hedging portfolio risk with stock index futures is proposed .

1990年诺贝尔经济学奖得主之一威廉·夏普建立的资本资产定价模型（CAPM）在现代投资理论中占有重要地位。

CAPM model established by William · F · Sharp who is one of economic nobelists in 1990 occupies an important place in the modern investment theory .

然后在此基础上提出了风险投资风险的预测模型，并且基于资本资产定价模型（CAPM）的基本思想，就如何利用资本资产定价模型对风险投资项目进行经济性综合评估的方法做出了较详细阐述。

According to the essential idea of Capital Asset Pricing Model ( CAPM ), this article details how to make use of the CAPM evaluates venture capital projects .

针对此模型的局限性，目前大量学者发展了CAPM，但是仍然没有一个模型能完全替代资本资产定价模型。

To limitation of this model , a large number of scholar develop CAPM at present , but no one model can still substitute the Capital Assets Price Model totally .

虽然众多学者对CAPM提出了诸多质疑，但是大多数经济学家认为迄今为止的所有研究并不能证明CAPM无效，许多学者纷纷提出自己的改进意见，还有一些把资本资产定价模型和其他领域结合进行了创新。

All though many scholars are oppugn of CAPM , some economists still insist on CAPM . They provide new idea , and even try to combine CAPM with other fields .

无成本假说是资本资产定价模型（CAPM）“资产均衡价格与投资者偏好无关结论”的根本原因。

The No-cost Hypothesis is the fundamental cause for " Asset equilibrium price has nothing to do with the investor 's preference " in Capital Asset Prices Model ( CAPM ) .

信息交易者，在有效的市场中，是理性选择投资的，传统理论学者据此构建了资本资产定价模型CAPM模型。

Information traders make rational investments and the capital market is effective and efficient . According to the conditions , scholars deduce the Capital Assets Price Model ( CAPM ) model .

例如，无风险资产是资本资产定价模型（CAPM）、资本市场线（CML）以及部分现代组合理论的基础。

For example , the risk-free asset is the foundation of the capital asset pricing model ( CAPM ), the capital market line ( CML ) and parts of modern portfolio theory .

根据单因素资本资产定价模型（CAPM）模型，股票的β值与期望收益率呈正比例关系，β值为通常收益率的解释因素。

According to the CAPM model , there is a linear correlation between β and the expected return of stock . β is the only factor for the ordinary return of stock .

随着金融市场上各种异象的累积，有效市场假说（EMH）和资本资产定价模型（CAPM）的权威地位已开始动摇。

Along with various accumulations of anomalies in financial market , the correctness of Efficient Market Hypothesis ( EMH ) and the Capital Asset Pricing Model ( CAPM ) has been doubted .

保险资金的运用是保险经营活动的重要组成部分，而权益型资产投资是其中的主要构成之一，传统的DFA中用资本资产定价模型（CAPM）来进行模拟。

The investment of insurance funds is an essential part of insurance operation , and equities investment is an important component of it . The equities investment simulated by CAPM in traditional DFA .

传统金融理论建立在有效市场假说（EMH）和资本资产定价模型（CAPM）两大基石之上，其模型和范式局限在理性的分析框架中，忽视了对投资者实际决策行为的分析。

The traditional finance theory is based on EMH and CAPM , but the models and methods are confined to the frame of rationality ignoring the analysis of investor 's actual decision behaviour .

当公司购入特定的实物资本资产时，可在其应纳税额中扣除投资税收抵免（ITCs）。

Investment tax credits ( ITCs ) are deducted from the firm 's tax bill when particular physical capital assets are purchased .

资本资产定价模型（CAPM）不仅由于其简洁性和直观性，被广泛应用于风险组合绩效评估、证券定价等诸多方面；

The Capital Asset Pricing Model ( CAPM ) not only is widely used in evaluating the performance of portfolios estimating the cost of securities , and so on , because of its concision and intuitiveness ;

毋庸多说，格雷厄姆一多德都市的投资者并不探讨bate、资本资产定价模型、证券投资报酬本的变异数。

Our Graham & Dodd investors , needless to say , do not discuss beta , the capital asset pricing model , or covariance in returns among securities .

本文基于现代投资理论（MIT）和资本资产定价模型（CAPM），给出了上市基金运行的模糊评价方法，提出了上市基金投资项目优选方法及其收益和风险控制策略。

Based on modern investment theory ( MIT ) and capital asset pricing model ( CAPM ), the method of fuzzy valuation of mutual fund is given . And a series of strategy for investment and risk management is derived .

跨期资产定价模型（IAPM）能够弥补资本资产定价模型这一理论缺陷。

Intertemporal asset pricing models ( IAPM ) can remedy this theoretical defect of the capital asset pricing model .

利用威廉·夏普提出的资本资产定价模型（CAPM）对1999-2002年我国证券投资基金分散非系统性风险的效果进行实证分析，结果表明我国基金对非系统性风险的分散效果日益显著。

This thesis empirically analyses the scattered effect of Chinese security fund nonsystematic risk from 1999 to 2002 based on capital asset pricing model ( CAPM ) . The result indicates that the scattered effect is getting prominent increasingly .

其次，进一步论述了CAPM理论深化的两个很重要的方向&条件资本资产定价模型（CCAPM）和瞬间资本资产定价模型（ICAPM），从而将对CAPM的认识上升到动态的角度。

Second , the paper further dealt with two important directions of deepening CAPM & conditional CAPM and intertemporal CAPM , which raised the cognition of CAPM to a dynamic point of view .

在资产定价研究领域中，除了众所周知的Fama-French三因素，研究者一直不断的寻找着其他变量，来加强资本资产定价模型的实证解释力。

In the field of CAPM , except the well-known three factors in Fama-French framework , researchers are always searching other systematic factors to reinforce the explaining ability of CAPM theory .

贝塔系数作为资本资产定价模型（CAPM）中的组成部分，是衡量系统性风险的重要指标，它的精确与否对于预测收益率、资产定价和评估资产表现等具有重要的意义。

As the component of the capital asset pricing model ( CAPM ), beta is an important indicator of systemic risk , which has important implications for predicting the yield , asset pricing , evaluating the performance of assets and so on .