China's Stock Market Beta Coefficient Development Process
Zhu Guan-wen · Journal of Shangqiu Vocational and Technical College · 2012
In the development and practice of capital market,the right investment risk has always been a core problem in the financial research field.Sharpe(1964) introduced the Capital Asset Pricing Model(Capital Asset Pricing Model,CAPM) which was found on the portfolio theory of Markowitz.Since then the model was widely used in various investment agency,fund managements,risk portfolio management.From then on,the key factor of the CAPM——β coefficient's calculation,nature,and use in practical are particularly important.This paper puts forward some ideas about the definition,development of β coefficient and applications in China.