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资本资产定价模型(CAPM)是现代金融理论的三大基石之一,该模型对资本资产的定价问题从理论上给出了一个完美的解答,以一个简洁的方程描述了单个资产收益与市场收益之间的关系。自CAPM诞生后,由于其简洁性和可操作性使其得到了广泛的应用。但由于CAPM是在一系列严格的假定下成立的,分析资本资产定价模型,对我国的股票市场给出一定的启示。
Capital Asset Pricing Model (CAPM) is one of the three cornerstones of modern financial theory. This model provides a perfect solution to the pricing problem of capital assets in theory. It describes a single asset return and market return The relationship between. Since the birth of CAPM, it has been widely used due to its simplicity and operability. However, because CAPM was established under a series of strict assumptions, the paper analyzes the capital asset pricing model and gives some enlightenment to China’s stock market.