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Puas levered lossis unlevered beta siv hauv capm?

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Puas levered lossis unlevered beta siv hauv capm?
Puas levered lossis unlevered beta siv hauv capm?

Video: Puas levered lossis unlevered beta siv hauv capm?

Video: Puas levered lossis unlevered beta siv hauv capm?
Video: Markets with Mayne | Guest JadeCapFX 2024, Lub Xya hli ntuj
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Tom qab unlevering Betas, tam sim no peb tuaj yeem siv qhov tsim nyog "kev lag luam" Beta (xws li lub ntsiab lus ntawm comps 'unlevered Betas) thiab relever nws rau qhov tsim nyog peev qauv ntawm lub tuam txhab muaj nuj nqis. Tom qab relevering, peb tuaj yeem siv levered Beta hauv CAPM qauv los xam tus nqi ntawm kev ncaj ncees.

Puas CAPM puas siv cuab tam beta lossis kev ncaj ncees beta?

Tus beta ntawm lub tuam txhab ntsuas seb lub tuam txhab kev lag luam tus nqi hloov pauv li cas nrog kev hloov pauv hauv kev lag luam tag nrho. Nws yog siv nyob rau hauv tus qauv peev cuab tam tus nqi (CAPM) los kwv yees qhov rov qab ntawm cov cuab tam. Xws li kev txheeb xyuas rov qab tuaj yeem ua rau cov tuam txhab teev npe vim tias cov ntaub ntawv keeb kwm rov qab siv tau.

Koj puas siv levered lossis unlevered beta ntawm tus nqi sib npaug?

Unlevering the Beta

Unlevered beta is yog qhov tseem ceeb ntawm tus nqi nruab nrab tsis muaj nuj nqisQhov no yog qhov nruab nrab tus nqi yuav yog yam tsis siv nuj nqis lossis leverage. Txhawm rau suav rau cov tuam txhab nrog cov nuj nqis sib txawv thiab cov qauv peev, nws yog qhov yuav tsum tau ua kom tsis txhob muaj qhov beta. Tus lej ntawd yog siv los nrhiav tus nqi sib npaug.

Koj puas siv kev ncaj ncees beta hauv CAPM?

Raws li peb paub, beta yog qhov tsim nyog thaum siv tus qauv CAPM Li no, koj yuav tsum kwv yees nws. Ib txoj hauv kev ua nws yog siv cov qauv kev lag luam regression ntawm lub tuam txhab cov khoom lag luam rov qab. Koj yuav tsum paub tias qhov beta suav nrog tus qauv no yuav txawv txav nyob ntawm qhov kev xav thiab cov ntaub ntawv siv.

Puas WACC siv levered lossis unlevered equity?

Tus nqi nruab nrab hnyav ntawm peev (WACC) xav tias lub tuam txhab cov peev txheej tam sim no yog siv rau kev tshuaj xyuas, thaum tus nqi tsis muaj peev xwm xav tias lub tuam txhab yog 100% kev ncaj ncees nyiaj txiag. Qhov kev xam pom tseeb yog ua los txiav txim qhov xav tau ntawm tus nqi rov qab los ntawm tag nrho cov peev txheej.

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