[問題] 我有幾個財管問題想請教
1.Nero has the following capital structure:
Security beta total market value
---------------------------------------------------------
Debt 0 100million
Preferred stock 0.20 40
Common stock 1.2 299
a.what's the firm's asset beta?
b.assume CAMP is correct. What discount rate should Nero set for
investments that expand the scale of its operations without changing
its asset beta?假設無風險利率5%風險益酬為6%
假設市場上所有風險性資產所形成可行投資組合共有下列七個:
A~(40%,30%)
B~(25%,10%)
C~(30%,25%)
D~(36%,20%)
E~(25%,15%)
F~(45%,30%)
G~(35%,25%)
括弧中第1個數字為投資組合的標準差σp,第二個數字則為其預期報酬率E(Rp)=μp,試回答:
1.效率前緣由哪幾個投資組合購成?
2.當無風險資產存在,且無風險利率Rf=5%時,何者為市場投資組合?
3.資本市場線(CML)與證卷市場線(SML)的方程式為何?
4.設一股票之市價為20,預測一年內將發放現金股利2,且一年後之預 期市價將為26,該股票之β係數為2,則該股票是否值得投資?
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