| CAPM在我国的适用性探讨 |
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| 引用本文： | 程崇祯,章婷.CAPM在我国的适用性探讨[J].湖北大学学报(哲学社会科学版),2005,32(1):52-55. |
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| 作者姓名： | 程崇祯 章婷 |
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| 作者单位： | 湖北大学,商学院,湖北,武汉,430062;湖北保监局,湖北,武汉,430062 |
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| 基金项目： | 湖北省重点软科学攻关项目(2001P2617) |
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| 摘 要： | CAPM作为第一个不确定性条件下的资产定价的均衡模型,在金融业务中有着广泛的应用。本文从市场有效性、股市规模和投资者素质三个方面深入探讨了我国证券市场运用CAPM存在的局限性,并针对性地提出了提高CAPM在我国的适用性的有效途径,即提高股市信息效率,扩大股市规模,培育机构投资者。
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| 关 键 词： | CAPM 应用 限制 途径 |
| 文章编号： | 1001-4799(2005)01-0052-04 |
| 修稿时间： | 2003年10月8日 |
On the Applicability of CAPM in China |
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| CHENG Chong-zhen,ZHANG Ting.On the Applicability of CAPM in China[J].Journal of Hubei University(Philosophy and Social Sciences),2005,32(1):52-55. |
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| Authors: | CHENG Chong-zhen ZHANG Ting |
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| Institution: | CHENG Chong-zhen1,ZHANG Ting2 |
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| Abstract: | CAPM is widely applied in financial operation as a equilibrium model under uncertainty. However, because it is set up in various hypothesizes, it can hardly be test by practices. Based on the conclusion of former empirical work, this paper discussed the restrictions on the usage of CAPM in Chinese security market from three aspects: the market efficiency, market scale, and the quality of investor, and simultaneously, in order to improve the application of CAPM directing against our current condition, we put forward some efficient approaches, those are enhancing the efficiency of security information, expanding the market scale, and cultivating institutional investor. |
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| Keywords: | CAPM application restriction approach |
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