公司理财罗斯英文原书第九版第十一章课件.pptx

Return and Risk: The Capital Asset Pricing Model;Key Concepts and Skills;Chapter Outline;11.1 Individual Securities;11.2 Expected Return, Variance, and Covariance;Expected Return;Expected Return;Variance;Variance;Standard Deviation;Covariance ;Correlation;11.3 The Return and Risk for Portfolios;Portfolios;Portfolios;Portfolios;Portfolios;11.4 The Efficient Set for Two Assets;The Efficient Set for Two Assets;Portfolios with Various Correlations ;11.5 The Efficient Set for Many Securities;;Announcements, Surprises, and Expected Returns;Announcements, Surprises, and Expected Returns;Diversification and Portfolio Risk;;Risk: Systematic and Unsystematic;Total Risk;Optimal Portfolio with a Risk-Free Asset ;11.7 Riskless Borrowing and Lending;;;Market Equilibrium;Risk When Holding the Market Portfolio;Estimating b with Regression;The Formula for Beta;11.9 Relationship between Risk and Expected Return (CAPM);Expected Return on a Security;Relationship Between Risk Return;Relationship Between Risk Return;Quick Quiz