The Securities Among the Capital and Securities Sector in Financial Industry by Capital Asset Pricing Model (CAPM): The Case Study of ECL, ML, TNITY, ASK, FNS and CGS

Abstract

This research has objective of 1. To comparison study risk and compensation has acquired by finance business group, capital section and security, risk and compensation has acquired of market. 2. To comparison of the required rate of return and expected rates of return for finance business group, capital and security section, which security of this study is security of finance business group, capital and security group has registered in Security Market of Thailand for 6 securities. For example, ECL, ML, TNITY, ASK, FNS and CGS. The research was collected the secondary data from January 4,2011 till December 28,2012 and the total period of 489 official working days based on Capital Asset Pricing Model (CAPM). The result founded that, security of finance business group, capital and security group it has 5 securities investors should be invested in. Include, ECL, ML, TNITY, ASK, FNS and CGS. That mean these securities are undervalued stocks. While, securities in the finance business group, capital and security group it has 1 securities investors should be sell was FNS. That mean these securities are overvalued stocks. The securities ECL, ML, TNITY, ASK, FNS and CGS have a beta coefficient of less than 0, these is a positive relationship. Securities are less risky than the market which indicates that the return of the securities subject to change in line with market returns proportion of less than. Securities such as passive Defensive Securities).