Abstract

Capital asset pricing is very important to the development of listed companies. It is not only related to the performance of micro enterprises, but also related to the stability and development of macro financial markets. Therefore, the in-depth study of the law and influencing factors of listed companies’ return on capital assets is a theoretical problem worthy of in-depth exploration, but also has significant practical significance. In this paper, 160 stocks from 2012 to 2021 are selected for empirical analysis, and it is concluded that stocks of small-scale companies can realize good risk hedging as a hedge tool, and the trend of large-scale high-yield stocks conforms to the traditional capital asset pricing theory.

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