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Optionspreisbasierte Kapitalkostenbestimmung als Alternative zum Capital Asset Pricing Model?: Eine empirische Studie unter deutschen Aktiengesellschaften

Optionspreisbasierte Kapitalkostenbestimmung als Alternative zum Capital Asset Pricing Model?: Eine empirische Studie unter deutschen Aktiengesellschaften

          
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About the Book

Auch über vierzig Jahre nach seiner Entwicklung ist das Capital Asset Pricing Model (CAPM) noch immer das Standardmodell zur Bestimmung risikoadäquater Kapitalkosten. Das Modell wurde in zahlreichen empirischen Untersuchungen immer wieder bestätigt, oftmals aber auch widerlegt. Mehrfach wurden Erweiterungen und Alternativen zum CAPM entwickelt, von denen allerdings keine auch nur annähernd denselben Verbreitungsgrad wie das CAPM erreichen konnte. Die Vielzahl der Arbeiten, die das Modell kritisieren, und die vielen Ergänzungen, die zum CAPM entwickelt wurden, zeigen jedoch, dass der Wunsch nach einer Alternative besteht. Erst kürzlich wurde deshalb das Market Derived Capital Pricing Model(TM) (MCPM(TM)) entwickelt, das bei der Kapitalkostenbestimmung die Renditen von Staats- und Unternehmensanleihen sowie die Börsenpreise von Aktienoptionen heranzieht. Seine Begründer behaupten, dass das Modell die Schwächen des CAPM vermeidet und eine realistischere Schätzung der Kapitalkosten eines Unternehmens ermöglicht. Diese empirische Studie untersucht, ob das MCPM(TM) tatsächlich zu einem verlässlicheren Ergebnis führt und damit als alternatives Kapitalkostenmodell langfristig in Frage kommen kann.


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Product Details
  • ISBN-13: 9783836681452
  • Publisher: Diplomica Verlag Gmbh
  • Publisher Imprint: Diplomica Verlag Gmbh
  • Height: 254 mm
  • No of Pages: 80
  • Series Title: German
  • Sub Title: Eine empirische Studie unter deutschen Aktiengesellschaften
  • Width: 178 mm
  • ISBN-10: 3836681455
  • Publisher Date: 12 Oct 2009
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Weight: 159 gr


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Optionspreisbasierte Kapitalkostenbestimmung als Alternative zum Capital Asset Pricing Model?: Eine empirische Studie unter deutschen Aktiengesellschaften
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Optionspreisbasierte Kapitalkostenbestimmung als Alternative zum Capital Asset Pricing Model?: Eine empirische Studie unter deutschen Aktiengesellschaften
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