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资产定价模型的最初目的是为了减少投资者的风险而量化出来的一种现代化的投资理论,是在投资组合理论和资本市场理论的基础上形成发展的,主要研究证券市场中资产的预期的收益率和风险资产之间的关系以及均衡的价格是如何形成的。资产定价模型在项目资本运作中发挥了重要的作用,尤其是在于高速公路的项目运作中,发挥了巨大的作用,高速公路具有投放大、工期长、财务压力大等特点,通过对资产定价模型理论的导入可以进行预测未来的报酬率,并对投资做出有效的决策。文章概述了现代投资理论下的资产定价模型以及资产定价模型在项目资本上的应用以及在项目风险决策中的应用。
The original purpose of the asset pricing model is to quantify a modern investment theory which is based on the theory of portfolio and capital market to quantify the risk of investors. It mainly studies the expected return of assets in the securities market The relationship between rate and risk assets and how the equilibrium price is formed. The asset pricing model plays an important role in the operation of project capital. Especially in the project operation of expressway, the asset pricing model has played a huge role. The expressway has the characteristics of large investment, long construction period and great financial pressure. By analyzing the asset pricing model The introduction of theory can predict the future rate of return, and make effective investment decisions. The article summarizes the asset pricing model under modern investment theory and the application of asset pricing model in project capital as well as its application in project risk decision-making.