Naslov
Research of investment risk using beta coefficient

Autori
Karačić, Domagoj ; Bestvina Bukvić Ivana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Zbornik radova X interdisciplinarnog simpozija: Interdisciplinary Management Research X / Bacher, U. ; Barković, D. ; Dernoscheg, K. H. ; Lamza-Maronić, M. ; Matić, B. ; Pap, N. ; Runzheimer, B. - Osijek : Ekonomski fakultet Sveučilišta Josipa Jurja Strossmayera u Osijeku ; Hochschule Pforzheim University of Applied Sciences, 2014, 521-530

ISBN
978-953-253-126-8

Skup
Interdisciplinary Management Research X

Mjesto i datum
Opatija, Hrvatska, 16.05.2014. - 18.05.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
beta coefient; risk assessment; capital market; decision-making
(beta coe cient; risk assessment; capital market; decision-making)

Sažetak
Beta coefcient is a measure of the investment or asset’s systematic risk in relation to the overall stock market. It enables comparison of a level of the risk of investments or assets with di€ferent characteristics. Before interpretation of its results, it is necessary to understand the speci city of this coeficient, the conditions of the capital market, as well as investments that are being analysed. ‚ is paper analyses the applicability of beta in determining the risks of, by the characteristics, di€ferent types of investments and presents the results of the research of level of the risk and the return of investments in capital projects compared to investment in a portfolio of selected stocks on the Croatian capital market. Given the above, the aim of this work was to determine the usefulness of the beta coeficient and in the di€ferent types of investments risk analysis. Analysing the results of the research it has been found that, in the period 2003-2010, according to analyst projections, the investments in capital projects were, in average, less risky compared to investing in a portfolio of selected stocks. It was also found that the expected return on investment in a portfolio of selected stocks is 1.4 times greater than the average expected return on investment in capital projects (measured by the CAPM model). By adjustment of the beta calculation model to the characteristics of the market it was used on, it was found that beta coeficient is a useful measure in the risk analysis and can be used to compare riskiness of, by characteristics, di€ferent types of investments

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA