新西兰论文代写:证券市场

Keywords:新西兰论文代写

在发达的证券市场中，贝塔系数被广泛应用于证券分析和投资决策，特别是基金管理。β系数主要应用在以下几个方面

（1）衡量风险的盈利能力

（2）用作投资组合的重要输入参数

（3）反映投资组合的特点

（4）根据市场预测，选择不同的贝塔系数，以获得额外收益

β被用来作为模型和工具，控制系统风险的学者和从业者。β来自股票收益率与市场收益率关系的风险指标。β系数是股票收益率的协方差与市场组合收益率和方差的市场组合收益率（Cochrane，1996）。它代表了资产回报率变化的敏感性相关的市场组合回报。它还描述了系统风险的资产。风险与系统风险是个体风险（非系统风险），这是由公司引起价格波动的因素

新西兰论文代写:证券市场

In the developed securities market, Beta coefficient is widely used in security analysis and investment decisions, especially in fund management. Beta coefficient is mainly applied in the following aspects:
(1) To measure the profitability of the risk
(2) To be used as a vital input parameter of Investment portfolio
(3) To reflect the feature of investment portfolio
(4) To get extra yields by choose different beta coefficient on the basis of market forecasts
Beta is used as model and tool of control the system risk by Academics and practitioners. Beta comes from risk indicator of the relationship between stock yield and market yield. Beta coefficient is the rate of stock return covariance with the market portfolio return and the variance of the market portfolio return (Cochrane, 1996). It represents the sensitivity of the asset return change related the market portfolio return. It also describes system risk of an asset. The risk opposed to a systematic risk is the individual risk (unsystematic risk), that is price fluctuations caused by the company factors (Bolton, Chen, and Wang, 2011).