Date: Thursday, November 30, 2017
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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More information is available below

Featuring  (click image for bio)

Dr. Michael A. Crain
Florida Atlantic University
Dr. G. William Kennedy
Duff & Phelps

About This Program

Betas are misunderstood, misapplied and, often, feared. A key feature of the CAPM is “beta” that represents an asset’s exposure to market risk. Practitioners using the CAPM or its modified form must determine a beta value to apply the model for cost of capital calculations. Join Dr. Michael Crain and Dr. Bill Kennedy for an exploration of the theory and evidence of CAPM beta, use of beta in valuation practice, and the link between capital structure and beta.


  • The theory of CAPM and beta
  • The theory of using beta to estimate future returns (cost of capital) and asset pricing
  • Evidence on CAPM beta
  • Use of CAPM beta in practice
  • Capital structure and CAPM beta

Learning Objectives

  • Describe the theory and evidence of CAPM and CAPM beta that they likely did not receive in their BV training
  • Learn the details of how analysts determine beta values both present and past, the decisions that analysts make in calculating a beta from historical data, and the stability of firm betas
  • Explain  how they might use beta values derived from observable data on listed firms to apply to cost of capital estimates of unlisted firms and capital investments
  • Describe how a firm’s capital structure (leverage) affects asset beta and how to unlever and relever equity beta

Single Connection Policy

Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy

Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

Closed Captioning:

BVR now has closed captioning on all 2019 past programs. To try out this enhancement, subscribers can login to the Desktop Learning Center, select a program, and click play video. The captions will start to play automatically, and can be disabled from the player per your preference.

Business Valuation Resources is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
NASBA Sponsor

Training Packs: Conference Recordings & Transcripts
Now delivered as an electronic download.

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