Die Empirische Ermittlung Der Marktrisikoprämie
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Die Empirische Ermittlung Der Marktrisikoprämie

Die Empirische Ermittlung Der Marktrisikoprämie


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About the Book

Diese breit angelegte Studie zur empirischen Berechnung der Marktrisikoprämie zeichnet sich durch ihr methodisch konsistentes Vorgehen, den weit zurückreichenden Beobachtungszeitraum sowie die internationale Abdeckung aus. Zur Ermittlung der Performance der sicheren Anlagealternative kommen durchgehend langlaufenden Staatsanleihen zum Einsatz, um den Laufzeitfehler gegenüber Aktien als riskante Anlage zu minimieren. Die weiteren Parameter des CAPM sowie die Mittelwertbildung werden mit dem Ziel diskutiert, eine möglichst hohe Äquivalenz zwischen riskanter und sicherer Anlagealternative zu erreichen.

Der Beobachtungszeitraum reicht bis 1870 zurück. Die untersuchten Kapitalmärkte umfassen Deutschland, die Schweiz, Österreich, die USA, das UK, Frankreich und Japan. Dies erlaubt eine internationale Einordnung der erzielten Ergebnisse mit Überrenditen zwischen 0 % und 4 % und mündet in einer Empfehlung zur Verwendung einer Marktrisikoprämie in Höhe von 2 % bis 3 %.

Die vorliegende Arbeit ist insbesondere vor dem Hintergrund des in Deutschland vorherrschenden Bewertungsstandards IDW S1 zu sehen. Dessen Inkonsistenzen bei der Ermittlung der Kapitalkosten werden hier diskutiert und Lösungsvorschläge aufgezeigt.


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Product Details
  • ISBN-13: 9783658447908
  • Publisher: Springer Fachmedien Wiesbaden
  • Binding: Paperback
  • Language: German
  • Returnable: Y
  • Sub Title: Eine Internationale Auswertung Auf Der Basis Historischer Zeitreihen AB 1870
  • Width: 148 mm
  • ISBN-10: 3658447907
  • Publisher Date: 31 Jul 2024
  • Height: 210 mm
  • No of Pages: 363
  • Spine Width: 21 mm
  • Weight: 526 gr


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