文档介绍：毕业设计(论文)
题目资本资产定价模型
在整车类股票投资中的运用
系别:财经贸易系
专业:财务管理
班级:T553-4
学号:02
学生姓名:周敏
指导教师:魏安敏
摘要
随着我国工业化程度的不断提高和汽车行业的迅速发展,中国的汽车行业在工业中增长很快,在未来几年内汽车行业的发展将对我国经济的发展起着重要的作用。2001年中国加入WTO使我国汽车行业的竞争变得更为激烈,同时也引来了各类人士对我国汽车行业发展的关注。鉴于此,本文选择中国汽车行业作为研究对象。本文以传统的资本资产定价模型为基础,采用理论与实证相结合的方法,来验证CAPM是否适用于中国汽车行业。本文首先对我国汽车行业的现状进行了简单介绍,其次是对与CAPM相关的理论知识的综述,然后通过实证检验了CAPM对汽车行业的有效性,最后对传统CAPM理论对汽车行业失效给出了合理的解释。
关键词:中国汽车行业,CAPM,β系数
Abstract
With the continuous improvement of the degree of industrialization and the rapid development of the automotive industry, China is auto industry growth rate in industry, in the next few years the development of the automobile industry of China is economic development will play an important role. 2001, China is accession to the WTO so that petitiveness of China is automotive industry has e more intense, but also all kinds of people attracted to China is automobile industry development. In view of this, China is automobile industry to choose this article as a study. In this paper, the traditional capital asset pricing model, using bination of theory and empirical methods to validate the applicability of CAPM in China is automobile industry. In this paper, first the current situation of China is automotive industry had a brief introduction, followed by the CAPM associated with a synthesis of theoretical knowledge, and then through the empirical testing of the CAPM on the effectiveness of the automotive industry, the last of the traditional CAPM theory of failure of the automotive industry are given reasonable explanation.
Key words: China's automobile industry, CAPM, β coefficient.
引言 - 1 -
第一章 1
中国整车类行业现状分析 1
资本资产定价模型国内外研究现状 4
资本资产定价模型国内研究现状 4
资本资产定价模型国外研究现状 5
第二章资本资产定价模型理论综述 6
应用资本资产定价模型来对股票估价 7
贝他系数的含义和计算 8
决定无风险利率和市场报酬率 10
资本资产定价模型的含义总结 11
资本资产定价模型和投资评价 11
权益贝他系数和资产贝他系数 11
第三章中国整车行业CAPM实证研究 13
样本选取 13
股票的选取 13
市场指数的选择 14
资本资产定价模型定量计算 15
股票收益率 15
市场收益率