Empirical Study on Risk and Expected Return of Different-Scale Real Estate Companies Based on CAPM

摘要：

Capital Asset Pricing Model (CAPM) is used to measure asset risk and expected return of investment, this article divided real estate enterprises into large, medium and small categories, used CAPM to analyze and compare the investment risk and expected return for different scale of real estate enterprises. First of all, by building the recovery share price model, single corporate monthly return model, different sizes real estate companies?monthly weighted return model, the market-weighted monthly returns model, calculated monthly return of investment in different sizes real estate enterprises, the real estate industry and China A-share market. Secondly, through the regression analysis, calculated the risk, which is .. value, and calculated the expected returns of large, medium, small and industry in real estate business by using the CAPM. Finally, comparative analyze investment risk and expected return for the different-scale real estate enterprises, provide a reference for investors.

关键词： CAPM different-scale real estate companies risk expected return B value

作者: Zhang ZHANG Xinwang ZHOU

作者单位: Department of Construction Management, Beijing UnionUniversity Ph.D. Candidate, Renmin University of Tsinghua University, Beijing, China 100084

会议类型: 国际会议

会议名称: 2011 International Conference on Construction & Real Estate Management(2011建设与房地产管理国际会议)

会议地点: 广州

会议语种:英文

页码: 467-470

在线出版日期: 2011-11-19（万方平台首次上网日期，不代表论文的发表时间）