A Bottom-Up Approach to Unlevered Risk in a Financial and Managerial Perspective

  • Antonio Renzi
  • Giuseppe Sancetta
  • Beatrice Orlando


In financial theory, there are several models that study the risk-return relationship. However, the capital asset pricing model (CAPM) still remains the most popular among financial analysts and firms (Bernardo et al., 2007; Graham and Harvey, 2001; Jagannathan and Meier, 2002).


Systematic Risk Development State Contribution Margin Structural Instability Capital Asset Price Model 


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© Antonio Renzi, Giuseppe Sancetta, and Beatrice Orlando 2015

Authors and Affiliations

  • Antonio Renzi
  • Giuseppe Sancetta
  • Beatrice Orlando

There are no affiliations available

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