期刊名称：Entrepreneurial Business and Economics Review
印刷版ISSN：2353-8821
出版年度：2013
卷号：1
期号：4
页码：37-56
出版社：Centre for Strategic and International Entrepreneurship of the Faculty of Economics and International Relations at the Cracow University of Economics.
摘要：The objective of this paper is to consider the Capital Asset Pricing Model, to determine its most disputable points, to identify concepts defining and supplementing the points of the model. The article ends with an example of calculation of the cost of equity for a company of a forestry sector of Russia. Two levels of study were used: theoretical and empirical. The theoretical level of research was based on interrogation, measurement, observation, experiment. The experimental part of the study has been performed by calculating models for three options of implementing the investment projects and the assessment of the total impact of reducing non-systematic risks for the Russian forestry sector. The practical application of the research is the development of tools to assess the non-systematic risks arising during the project implementation in the forest-based sector of Russia, which enables to assess those risks for logging and sawmill woodworking enterprises. The research provides the ability to assess nonsystematic risks and determines the viability of risk mitigation for both initiators of investment projects and existing investors. The originality of the research is based on the assessment of the effects of non-systematic risks on investment projects in the forestry sector in Russia.
关键词：asset’s rate of return; risks and riskiness of investments; market portfolio; unsystematic risk factors; forestry sector
