《财务管理》课程PPT教学课件（英文版）Chapter 06 Risk and Rates of Return

Ch 6: Risk and rates ofreturn Return Risk o 2002. Prentice Hall. Inc

Ch 6: Risk and Rates of Return Return Risk © 2002, Prentice Hall, Inc

Chapter 6: Objectives Inflation and rates of return How to measure risk (variance, standard deviation, beta) How to reduce risk (diversification) How to price risk (security market line, CAPM)

Chapter 6: Objectives • Inflation and rates of return • How to measure risk (variance, standard deviation, beta) • How to reduce risk (diversification) • How to price risk (security market line, CAPM)

Inflation, Rates of return, and the Fisher Effect Interest Rates

Inflation, Rates of Return, and the Fisher Effect Interest Rates

Conceptually. Interest rates

Interest Rates Conceptually:

Conceptually. Interest rates Nominal risk-free Interest Rate krf

Interest Rates Conceptually: Nominal risk-free Interest Rate krf

Conceptually. Interest rates Nominal risk-free Interest Rate krf

Interest Rates Conceptually: Nominal risk-free Interest Rate krf =

Conceptually. Interest rates Nominal Real risk-free risk-free Interest Interest Rate Rate krf k

Interest Rates Conceptually: Nominal risk-free Interest Rate krf = Real risk-free Interest Rate k*

Conceptually. Interest rates Nominal Real risk-free risk-free Interest Interest+ Rate Rate krf k

Interest Rates Conceptually: Nominal risk-free Interest Rate krf = Real risk-free Interest Rate k* +

Conceptually. Interest rates Nominal Real Inflation risk-free risk-free isk Interest Interest+ premium Rate Rate IRP krf k

Interest Rates Conceptually: Nominal risk-free Interest Rate krf = Real risk-free Interest Rate k* + Inflation￾risk premium IRP

Conceptually. Interest rates Nominal Real Inflation risk-free risk-free isk Interest Interest+ premium Rate Rate IRP Krf k Mathematically

Conceptually: Nominal risk-free Interest Rate krf = Real risk-free Interest Rate k* + Inflation￾risk premium IRP Mathematically: Interest Rates