Thi Qun Tr Ti Chnh 2009

Cu 1: Gi s K(rf)= 11%, K(m)=14%, B(beta)=1.5

a. Nu c tc nm ti hi vng D1=2.25$, g=5% (khng i)
Gi c phiu ca Wei l bao nhiu (P) ???
b. K(rf) gim cn 9%, K(m)=12%
P=???
c. K(rf) nh cu b, K(m)=11%
P=???
d. g=6%, B(beta)=1.3, D=2.27$
P= ???
Cu 2: 10 nm trc thnh ph A pht hnh 1 triu tri phiu th c li sut cung phiu
14%, k hn 30 nm, tr li nh k 6 thng, min thu. Tri phiu c iu khon khng c
thu hi trc 10 nm k t ngy pht hnh, nhng by gi thnh ph c th thu hi nu
mun. Chi ph thu hi l 10% mnh gi. Tri phiu mi k hn 20 nm, li sut nm 12%, tr
li nh k l 6 thng, c th bn bng mnh gi nhng chi ph pht hnh l 2% (20000$).
Tnh hin gi thun NPV ???