年份

无风险收益率(Rf)

市场风险溢价(Rm − Rf)

β系数

权益资本成本

2014

3.62%

7.40%

1.01

11.09%

2015

2.82%

7.00%

0.98

9.68%

2016

3.01%

6.80%

1

9.81%

2017

3.88%

6.90%

0.99

10.71%

2018

3.23%

6.70%

0.99

9.86%

2019

3.14%

6.00%

0.98

9.02%

2020

3.14%

2.20%

0.99

5.32%

2021

2.78%

8.10%

1

10.88%

2022

2.88%

3.00%

0.99

5.85%