{"id":73707,"date":"2023-11-25T08:05:02","date_gmt":"2023-11-25T08:05:02","guid":{"rendered":"https:\/\/science-hub.click\/%E9%87%91%E8%9E%8D%E8%B3%87%E7%94%A3%E4%BE%A1%E6%A0%BC%E3%83%A2%E3%83%87%E3%83%AB%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6%E8%A9%B3%E3%81%97%E3%81%8F%E8%A7%A3%E8%AA%AC\/"},"modified":"2023-11-25T08:05:02","modified_gmt":"2023-11-25T08:05:02","slug":"%E9%87%91%E8%9E%8D%E8%B3%87%E7%94%A3%E4%BE%A1%E6%A0%BC%E3%83%A2%E3%83%87%E3%83%AB%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6%E8%A9%B3%E3%81%97%E3%81%8F%E8%A7%A3%E8%AA%AC","status":"publish","type":"post","link":"https:\/\/science-hub.click\/?p=73707","title":{"rendered":"\u91d1\u878d\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac"},"content":{"rendered":"<div><div><p><strong>Capital Asset Pricing Model<\/strong> ( <strong>CAPM<\/strong> ) \u306f\u3001\u82f1\u8a9e\u306e<i><strong>Capital Asset Pricing Model<\/strong><\/i> (CAPM) \u306e\u5927\u307e\u304b\u306a\u7ffb\u8a33<sup class=\"reference\" id=\"_ref-0\"><span>[<\/span> 1 <span>]<\/span><\/sup>\u3067\u3042\u308a\u3001\u91d1\u878d\u200b\u200b\u8cc7\u7523\u306e\u7406\u8ad6\u7684\u4fa1\u5024\u306e\u63a8\u5b9a\u5024\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002\u3053\u306e<span><a href=\"https:\/\/science-hub.click\/?p=11998\">\u7406\u8ad6\u306f\u3001<\/a><\/span>\u6295\u8cc7\u5bb6\u306e\u81ea\u7136\u306a\u30ea\u30b9\u30af\u56de\u907f\u3092\u8003\u616e\u3057\u3066\u3044\u307e\u3059\uff08\u3088\u308a\u6b63\u78ba\u306b\u306f\u3001\u6295\u8cc7\u5bb6\u306f\u7279\u5b9a\u306e\u30ea\u30b9\u30af\u306b\u5bfe\u3057\u3066\u5229\u76ca\u3092\u6700\u5927\u5316\u3057\u3088\u3046\u3068\u3059\u308b\u304b\u3001\u7279\u5b9a\u306e\u5229\u76ca\u3067\u30ea\u30b9\u30af\u3092\u6700\u5c0f\u9650\u306b\u6291\u3048\u305f\u3044\u3068\u8003\u3048\u307e\u3059\uff09\u3002<\/p><h2><span><span><a href=\"https:\/\/science-hub.click\/?p=74671\">\u610f\u5473<\/a><\/span><\/span><\/h2><p>Medaf \u307e\u305f\u306f\u8cc7\u672c\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306f\u3001\u5404\u8a3c\u5238\u306e\u9700\u8981\u3068\u4f9b\u7d66\u306b\u3088\u308b\u5e02\u5834\u5747\u8861\u306e\u9054\u6210\u3092\u8aac\u660e\u3057\u307e\u3059\u3002\u30ea\u30b9\u30af\u8cc7\u7523\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u305d\u306e<span><a href=\"https:\/\/science-hub.click\/?p=107477\">\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af<\/a><\/span>\u30ea\u30b9\u30af\u306b\u3088\u3063\u3066\u6c7a\u5b9a\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p><p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc\u304c\u540c\u3058\u30a6\u30a9\u30ec\u30c3\u30c8\u3092\u6301\u3063\u3066\u3044\u308b\u5834\u5408\u3001\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u306f\u505c\u6b62\u3057\u307e\u3059<\/p><p>\u5f0f\u306f\u95a2\u6570\u3067\u3059\u3002<\/p><ul><li>\u8cc7\u7523\u306e\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u30ea\u30b9\u30af\u3001\u3064\u307e\u308a\u975e\u5206\u6563\u30ea\u30b9\u30af\uff08\u6295\u8cc7\u5bb6\u306f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u5e02\u5834\u3067\u76f4\u63a5\u5206\u6563\u3055\u305b\u308b\uff09\u306e\u6e2c\u5b9a\u306b\u3064\u3044\u3066\u6307\u6458\u3057\u305f\u3002 <div class=\"math-formual notranslate\">$$ {\\beta_{actif} \\,} $$<\/div> (\u8cc7\u7523\u30d9\u30fc\u30bf\u4fc2\u6570);<\/li><li>\u5e02\u5834\u3067\u671f\u5f85\u3055\u308c\u308b\u53ce\u76ca\u6027\u306b\u3064\u3044\u3066\u8a00\u53ca\u3057\u305f<div class=\"math-formual notranslate\">$$ {E\\left(R_M\\right)} $$<\/div> ;<\/li><li>\u7121\u30ea\u30b9\u30af\u91d1\u5229\uff08\u901a\u5e38\u306f\u56fd\u50b5\uff09\u306e\u3001\u6ce8\u8a18<div class=\"math-formual notranslate\">$$ {R_F \\,} $$<\/div> \u3002 <\/li><\/ul><p><div class=\"math-formual notranslate\">$$ {[E(R_M) &#8211; R_F] \\,} $$<\/div>\u5e02\u5834\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u3001\u3064\u307e\u308a\u6295\u8cc7\u5bb6\u304c\u30ea\u30b9\u30af\u306e\u306a\u3044\u8cc7\u7523\u3067\u306f\u306a\u304f\u5e02\u5834\u306b\u8cc7\u91d1\u3092\u7f6e\u304f\u3068\u304d\u306b\u8981\u6c42\u3059\u308b\u8d85\u904e\u53ce\u76ca\u6027\u3092\u8868\u3057\u307e\u3059\u3002<\/p><p>\u30b6<div class=\"math-formual notranslate\">$$ {\\beta_{actif}\\,} $$<\/div>\u5e02\u5834\u306e\u53ce\u76ca\u6027\u3068\u6bd4\u8f03\u3057\u305f\u3001\u8003\u616e\u3055\u308c\u308b\u8cc7\u7523\u306e\u53ce\u76ca\u6027\u306e\u5909\u52d5\u6027\u3067\u3059\u3002\u6570\u5b66\u7684\u306b\u8a00\u3048\u3070\u3001\u3053\u308c\u306f\u8cc7\u7523\u306e\u53ce\u76ca\u6027\u3068\u5e02\u5834\u306e\u53ce\u76ca\u6027\u306e\u5171\u5206\u6563\u3068\u5e02\u5834\u30ea\u30b9\u30af\u306e<span><a href=\"https:\/\/science-hub.click\/?p=71701\">\u5206\u6563<\/a><\/span>\u306e\u6bd4\u7387\u306b\u5bfe\u5fdc\u3057\u307e\u3059\u3002<\/p><p> MEDAF (\u307e\u305f\u306f CAPM) \u30e2\u30c7\u30eb\u3067\u306f\u3001\u3053\u306e<span><a href=\"https:\/\/science-hub.click\/?p=99105\">\u4fc2\u6570\u304c<\/a><\/span>\u8cc7\u7523\u30ea\u30b9\u30af\u306b\u5bfe\u3059\u308b\u5e02\u5834\u30ea\u30b9\u30af\u306e\u8ca1\u52d9\u5f3e\u529b\u6027\u306b\u5bfe\u5fdc\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3059\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p><p>\u307e\u305f\u306f<div class=\"math-formual notranslate\">$$ {\\sigma_M \\,} $$<\/div>\u5e02\u5834\u30ea\u30b9\u30af\u3092\u8868\u3057\u307e\u3059\uff08\u306e\u6a19\u6e96\u504f\u5dee\uff09 <div class=\"math-formual notranslate\">$$ {R_M \\,} $$<\/div> \uff09 \u305d\u3057\u3066<div class=\"math-formual notranslate\">$$ {\\sigma_{actif}\\,} $$<\/div>\u8cc7\u7523\u306e\u30ea\u30b9\u30af (\u8cc7\u7523\u306e\u671f\u5f85\u53ce\u76ca\u306e\u6a19\u6e96\u504f\u5dee)\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u5e02\u5834\u3092\u8868\u3059\u8cc7\u7523\u306b\u306f\u3001 <div class=\"math-formual notranslate\">$$ {\\beta_{actif} \\,} $$<\/div> 1 \u306b\u7b49\u3057\u304f\u306a\u308a\u307e\u3059\u3002\u30ea\u30b9\u30af\u306e\u306a\u3044\u8cc7\u7523\u306e\u5834\u5408\u30010 \u306b\u7b49\u3057\u304f\u306a\u308a\u307e\u3059\u3002<\/p><figure class=\"wp-block-image size-large is-style-default\">\n<img decoding=\"async\" alt=\"\u91d1\u878d\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\" class=\"aligncenter\" onerror=\"this.style.display=none;\" src=\"https:\/\/img.youtube.com\/vi\/5kNLQk65SMg\/0.jpg\" style=\"width:100%;\"\/><\/figure><h2><span>\u8cea\u554f\u3059\u308b<\/span><\/h2><p><a class=\"extiw\" href=\"https:\/\/en.wikipedia.org\/wiki\/Eugene_Fama\" title=\"en:Eugene_Fama\">in:Eugene Fama<\/a>\u3068<a class=\"extiw\" href=\"https:\/\/en.wikipedia.org\/wiki\/Kenneth_French\" title=\"en:Kenneth_French\">in:Kenneth French \u306f<\/a>1992 \u5e74\u306b CAPM \u306b\u7591\u554f\u3092\u5448\u3059\u308b\u6709\u540d\u306a\u7814\u7a76<sup class=\"reference\" id=\"_ref-1\"><span>[<\/span> 2 <span>]<\/span><\/sup>\u3092\u767a\u8868\u3057\u3001\u4ee5\u6765<i>\u300c\u30d9\u30fc\u30bf\u306f\u6b7b\u3093\u3060\u300d\u8ad6\u6587<\/i>(\u300c\u30d9\u30fc\u30bf\u306e<span><a href=\"https:\/\/science-hub.click\/?p=60449\">\u6b7b<\/a><\/span>\u3092\u767a\u8868\u3059\u308b\u8a18\u4e8b\u300d) \u3068\u547c\u3070\u308c\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u5f7c\u5973\u306f\u3001\u4fa1\u683c\u5909\u52d5\u306e\u307b\u3068\u3093\u3069\u306f\u30d9\u30fc\u30bf\u306b\u3088\u308b\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u4ed6\u306e 2 \u3064\u306e\u5e02\u5834\u4fc2\u6570\u306b\u3088\u308b\u3082\u306e\u3067\u3042\u308b\u3068\u8003\u3048\u307e\u3057\u305f\u3002<\/p><ul><li><i>\u682a\u4fa1\u53ce\u76ca\u7387\uff08PER\uff09<\/i><\/li><li>\u7d14\u4f1a\u8a08\u8cc7\u7523\u306b\u5bfe\u3059\u308b\u6642\u4fa1\u7dcf\u984d\u306e\u6bd4\u7387\uff08<i>\u682a\u4fa1\u5bfe\u7c3f\u4fa1\uff08PBV\uff09<\/i> \u3001<span><a href=\"https:\/\/science-hub.click\/?p=35670\">\u9006<\/a><\/span>\u6bd4\u3092\u53d6\u3063\u3066<i>\u7c3f\u4fa1\u7c3f\u4fa1<\/i>\u3068\u3082\u547c\u3070\u308c\u307e\u3059\uff09\u3002<\/li><\/ul><p>\u4eba\u6c17\u306b\u306a\u3063\u305f\u30e2\u30c7\u30eb\u306f\u3001\u305d\u3053\u304b\u3089\u6d3e\u751f\u3057\u305f<i>3 \u8981\u7d20\u30e2\u30c7\u30eb<\/i>\u3067\u3059\u3002<\/p><p>\u3053\u306e<span><a href=\"https:\/\/science-hub.click\/?p=81037\">\u65b9\u5411<\/a><\/span>\u306e\u30e2\u30c7\u30eb\u3067\u3059\u304c\u3001\u3055\u3089\u306b\u62e1\u5f35\u3055\u308c\u305f\u306e\u306f\u3001\u8907\u6570\u306e\u30d9\u30fc\u30bf\u3092\u53d7\u3051\u5165\u308c\u3001\u305d\u308c\u305e\u308c\u304c\u7279\u5b9a\u306e\u5b9a\u91cf\u5316\u53ef\u80fd\u306a\u8981\u7d20\u306b\u5bfe\u5fdc\u3059\u308b\u30ed\u30b9\u306e APT (\u88c1\u5b9a\u4fa1\u683c\u7406\u8ad6) \u3067\u3059\u3002<\/p><p>\u6700\u5f8c\u306b\u3001\u884c\u52d5\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u7814\u7a76\u3067\u306f\u3001\u60c5\u5831\u306b\u5bfe\u3059\u308b\u5e02\u5834\u306e\u904e\u5270\u53cd\u5fdc\u3084\u904e\u5c0f\u53cd\u5fdc\u306a\u3069\u3001\u4ed6\u306e\u8981\u7d20\u3082\u5c0e\u5165\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p><\/div><figure class=\"wp-block-image size-large is-style-default\">\n<img decoding=\"async\" alt=\"\u91d1\u878d\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\" class=\"aligncenter\" onerror=\"this.style.display=none;\" src=\"https:\/\/img.youtube.com\/vi\/lgNJCyHzwfQ\/0.jpg\" style=\"width:100%;\"\/><\/figure><h2 class=\"ref_link\">\u53c2\u8003\u8cc7\u6599<\/h2><ol><li><a class=\"notranslate\" href=\"https:\/\/ar.wikipedia.org\/wiki\/%D9%86%D9%85%D9%88%D8%B0%D8%AC_%D8%AA%D9%82%D9%8A%D9%8A%D9%85_%D8%A7%D9%84%D8%A3%D8%B5%D9%88%D9%84_%D8%A7%D9%84%D8%B1%D8%A3%D8%B3%D9%85%D8%A7%D9%84%D9%8A%D8%A9\">\u0646\u0645\u0648\u0630\u062c \u062a\u0642\u064a\u064a\u0645 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0631\u0623\u0633\u0645\u0627\u0644\u064a\u0629 \u2013 arabe<\/a><\/li><li> <a class=\"notranslate\" href=\"https:\/\/ca.wikipedia.org\/wiki\/Model_de_valoraci%C3%B3_d%27actius_financers\">Model de valoraci\u00f3 d&#8217;actius financers \u2013 catalan<\/a><\/li><li> <a class=\"notranslate\" href=\"https:\/\/cs.wikipedia.org\/wiki\/CAPM\">CAPM \u2013 tch\u00e8que<\/a><\/li><li> <a class=\"notranslate\" href=\"https:\/\/da.wikipedia.org\/wiki\/Capital_asset_pricing_model\">Capital asset pricing model \u2013 danois<\/a><\/li><li> <a class=\"notranslate\" href=\"https:\/\/de.wikipedia.org\/wiki\/Capital_Asset_Pricing_Model\">Capital Asset Pricing Model \u2013 allemand<\/a><\/li><li> <a class=\"notranslate\" href=\"https:\/\/en.wikipedia.org\/wiki\/Capital_asset_pricing_model\">Capital asset pricing model \u2013 anglais<\/a><\/li><\/ol><\/div>\n<div class=\"feature-video\">\n <h2>\n  \u91d1\u878d\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\u30fb\u95a2\u9023\u52d5\u753b\n <\/h2>\n <div class=\"video-item\">\n  \n  <figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n   <div class=\"wp-block-embed__wrapper\">\n    <iframe loading=\"lazy\" title=\"\u8cc7\u672c\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/5kNLQk65SMg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n   <\/div>\n  <\/figure>\n  \n <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Capital Asset Pricing Model ( CAPM ) \u306f\u3001\u82f1\u8a9e\u306eCapital Asset Pricing Model (CAPM) \u306e\u5927\u307e\u304b\u306a\u7ffb\u8a33[ 1 ]\u3067\u3042\u308a\u3001\u91d1\u878d\u200b\u200b\u8cc7\u7523\u306e\u7406\u8ad6\u7684\u4fa1\u5024\u306e\u63a8\u5b9a\u5024\u3092 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73708,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img.youtube.com\/vi\/XukfIq89BT4\/0.jpg","fifu_image_alt":"\u91d1\u878d\u8cc7\u7523\u4fa1\u683c\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac","footnotes":""},"categories":[5],"tags":[11,13,14,10,67666,67665,986,12,16,15,3063,36672],"class_list":["post-73707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dictionary","tag-techniques","tag-technologie","tag-news","tag-actualite","tag-black-pearl","tag-heneicosane","tag-modele","tag-dossier","tag-sciences","tag-article","tag-evaluation","tag-actifs"],"_links":{"self":[{"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/posts\/73707"}],"collection":[{"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/science-hub.click\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=73707"}],"version-history":[{"count":0,"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/posts\/73707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/science-hub.click\/index.php?rest_route=\/wp\/v2\/media\/73708"}],"wp:attachment":[{"href":"https:\/\/science-hub.click\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=73707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/science-hub.click\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=73707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/science-hub.click\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=73707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}