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Hill Companies, Inc. All rights reserved 貝塔的衡量 戴爾電腦 Slope determined from plotting the line of best fit. Price data – Aug 88 Jan 95 Market return (%) Dell return (%) R2 = .11 B = 9 16 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 貝塔的衡量 戴爾電腦 Slope determined from plotting the line of best fit. Price data – Feb 95 – Jul 01 Market return (%) Dell return (%) R2 = .27 B = 9 17 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 貝塔的衡量 通用汽車 Slope determined from plotting the line of best fit. Price data – Aug 88 Jan 95 Market return (%) GM return (%) R2 = .13 B = 9 18 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 貝塔的衡量 通用汽車 Slope determined from plotting the line of best fit. Price data – Feb 95 – Jul 01 Market return (%) GM return (%) R2 = .25 B = 9 19 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 貝塔的衡量 美孚石油 Slope determined from plotting the line of best fit. Price data – Aug 88 Jan 95 Market return (%) Exxon Mobil return (%) R2 = .28 B = 9 20 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 貝塔的衡量 美孚石油 Slope determined from plotting the line of best fit. Price data – Feb 95 – Jul 01 Market return (%) Exxon Mobil return (%) R2 = .16 B = 9 21 McGraw Hill/Irwin Copyright 169。 2021 by The McGrawHill Companies, Inc. All rights reserved 無風險收益率的確定 貝塔的估計 杠桿:營業(yè)杠桿和財務(wù)杠桿 市場風險溢價的度量 營業(yè)風險和財務(wù)風險 權(quán)益資本成本的估計 9 22