基于CAPM的制造业行业资本成本的研究——以江苏省制造业为例

Research on Capital Cost of Manufacturing Industry Based on CAPM——A Case Study of Manufacturing Industry in Jiangsu Province

制造业行业资本成本不仅能够给投资者提供投资参考,为制造业企业投融资提供参考,也为相关部门制订行业政策与金融政策提供参考。本文对资本资产定价模型(CAPM)进行了阐述,运用CAPM对江苏省制造业行业资本成本进行分析,确定了无风险收益率、市场收益率、β系数和资本成本。结果显示,江苏省制造业行业资本成本为7.06%。

The capital cost of the manufacturing industry can not only provide investors with investment reference,provide reference for investment and financing of manufacturing enterprises,but also provide reference for the relevant departments to manufacture industry policy and financial policy.In this paper,the Capital Asset Pricing Model(CAPM)is described,and CAPM is used to analyze the capital cost of manufacturing industry in Jiangsu Province,and the risk-free rate of return,market rate of return,βcoefficient and capital cost are determined.The results show that the cost of manufacturing industry in Jiangsu Province is7.06%.