年份

2017

2018

2019

2020

2021

无风险利率

4.27%

4.27%

4.27%

3.97%

3.57%

风险因子(β系数)

1.12

0.94

1.42

1.19

1.27

市场风险溢价

4%

4%

4%

4%

4%

股权资本成本

8.75%

8.15%

9.83%

8.73%

8.53%