→ CTLien: 你知道哈馬達的原始假設嗎 = = 12/03 11:40
→ milk7054: 有考慮的哈馬達公式(MM有關論命題2) 12/03 11:43
→ milk7054: ^所得稅 12/03 11:43
→ milk7054: 哈馬達:股東承擔的系統風險(beta)跟槓桿(有債無債)關係 12/03 12:03
→ milk7054: beta資=負/(負+權)*beta負+權/(負+權)*beta權 12/03 12:07
→ milk7054: 上面是沒考慮所得稅,有考慮所得稅還要*(1-t) 12/03 12:10
→ milk7054: D/E+1=D/E+E/E=A(資產=負債+業主權益) 12/03 12:18
→ milk7054: 故beta權除以上式,可轉換成beta資 12/03 12:19
→ milk7054: 更正前兩句D/E+1=D/E+E/E=A/E 12/03 12:24