'Market risk premium' diaporamas de présentation

The Capital Asset Pricing Model (CAPM)

The Capital Asset Pricing Model (CAPM). Chapter 10. Individual Securities. The characteristics of individual securities that are of interest are the: Expected Return Variance and Standard Deviation Covariance and Correlation. Expected Return, Variance, and Covariance.

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Lecture Presentation Software to accompany Investment Analysis and Portfolio Management Eighth Edition by Frank K. Rei

Lecture Presentation Software to accompany Investment Analysis and Portfolio Management Eighth Edition by Frank K. Reilly & Keith C. Brown. Chapter 1 The Investment Setting. Questions to be answered: Why do individuals invest ? What is an investment ?

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Risk, returns and WACC

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Cost of Capital

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Chapter 12

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Cost of Capital

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Cost of Capital

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Chapter 4 Risk and Rates of Return

Chapter 4 Risk and Rates of Return. Defining and Measuring Risk. Risk is the chance that an unexpected outcome will occur A probability distribution is a listing of all possible outcomes with a probability assigned to each; must sum to 1.0 (100%). Expected Rate of Return.

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The Cost of Capital Chapter 14

The Cost of Capital Chapter 14. We know that the return earned on assets depends on the risk of those assets The return to an investor is the same as the cost to the company Our cost of capital provides us with an indication of how the market views the risk of our assets

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Cost of capital

Chapter 7. Cost of capital. Chapter Outline. The Cost of Capital: Introduction The Cost of Equity (CAPM and DDM) The Costs of Debt and Preferred Stock The Weighted Average Cost of Capital Divisional and Project Costs of Capital. Why Cost of Capital is Important.

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Cost of Capital

Cost of Capital. Chapter 12. Chapter Outline. The Cost of Capital: Some Preliminaries The Cost of Equity and Preferred Stock The Costs of Debt The Weighted Average Cost of Capital Divisional and Project Costs of Capital. 1. Required Return and Cost of Capital.

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Chapter 13 Return, Risk, and the Security Market Line

Chapter 13 Return, Risk, and the Security Market Line. 13.1 Expected Returns and Variances 13.2 Portfolios 13.3 Announcements, Surprises, and Expected Returns 13.4 Risk: Systematic and Unsystematic 13.5 Diversification and Portfolio Risk 13.6 Systematic Risk and Beta

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The Capital Asset Pricing Model

The Capital Asset Pricing Model. Chapter 9. Capital Asset Pricing Model (CAPM). Equilibrium model that underlies all modern financial theory Derived using principles of diversification with simplified assumptions

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CHAPTER 9

CHAPTER 9. The Capital Asset Pricing Model. It is the equilibrium model that underlies all modern financial theory Derived using principles of diversification with simplified assumptions Markowitz, Sharpe, Lintner and Mossin are researchers credited with its development.

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Chapter 9

Chapter 9. The Capital Asset Pricing Model. Capital Asset Pricing Model (CAPM). Equilibrium model that underlies all modern financial theory Derived using principles of diversification with simplified assumptions

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ITU-T Kaleidoscope 2009 Innovations for Digital Inclusion

ITU-T Kaleidoscope 2009 Innovations for Digital Inclusion. New Model for Cost of Equity Evaluation in Emerging Markets: The Telecommunication Sector in Brazil/ Tullio Bertini (National Telecommunications Agency, BRAZIL). Session 7.2, Public policies, standards and digital inclusion

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CHAPTER 7

CHAPTER 7. Capital Asset Pricing and Arbitrage Pricing Theory. Capital Asset Pricing Model (CAPM). CAPM is a theory of the relationship between risk and return CAPM underlies all modern finance. CAPM Assumptions. Information is costless and available to all investors

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PFIZER, Inc

PFIZER, Inc. Company Valuation Krastina Dzhambova. Company Overview Research based, global pharmaceutical company Discovers, develops, manufactures and markets prescription drugs 3 segemets:. R&D (in millions) 2005 2004 2003 $7442 $7684 $7487. Recent FDA Approvals. Challenges.

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THE CAPITAL ASSET PRICING MODEL (CAPM)

THE CAPITAL ASSET PRICING MODEL (CAPM).

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Module 6: Cost of Capital and Valuation

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