La Beta Apalancada (The Leveraged Beta)

10 Pages Posted: 20 Aug 2013 Last revised: 20 Jan 2018

See all articles by Juan Mascareñas

Juan Mascareñas

Universidad Complutense de Madrid

Date Written: October 19, 2007

Abstract

Spanish Abstract: En esta monografía se estudia cómo se obtiene la beta apalancada y sus limitaciones. Para ello se comienza definiendo cuatro tipos de betas (la del activo no apalancada, la del activo apalancada, la de los fondos propios y la de la deuda), luego se obtiene la expresión general de la misma, posteriormente se muestra su utilidad en el cálculo del coste medio ponderado del capital y, por último, se mencionan algunas de las limitaciones de su cálculo.

English Abstract: This monograph studies how to obtain the leveraged beta and its limitations. It begins defining four types of betas (asset beta, leveraged and unleveraged, equity beta, and debt beta). Then the general expression is gotten and after that, the utility of beta in the calculation of WACC is shown. Finally, some important warnings about its calculation are shown.

Note: Downloadable document is in Spanish.

Keywords: beta, unleveraged beta, leveraged beta, debt beta, equity beta, asset beta

JEL Classification: G32

Suggested Citation

Mascareñas, Juan, La Beta Apalancada (The Leveraged Beta) (October 19, 2007). Available at SSRN: https://ssrn.com/abstract=2312663 or http://dx.doi.org/10.2139/ssrn.2312663

Juan Mascareñas (Contact Author)

Universidad Complutense de Madrid ( email )

Avda. de Séneca 2
Madrid, 28040
Spain

HOME PAGE: http://www.ucm.es

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