The evalution of DCAPM,ACAPM model standard capital cost

This study evaluates the D-CAPM and A-CAPM models in comparison with the standard model in explaining the cost of capital in companies accepted in Tehran Stock Exchange. The period of research from the period of 1385-1396 is 12 years. Independent variables used in this research are various risk measurement indicators (beta coefficient) based on different models of capital asset valuation including standard capital investment pricing model, price model Redeeming capital assets and modeling the costing of asset-adjusted assets. The dependent variable of the present study is the weighted average cost of corporate capital. In this research, the control variables of financial leverage, company size, instant ratio, ratio of debt to equity, fixed asset ratio and net profit growth were also used. In this study, data of 153 companies during the years 1385-1396 The whole of the companies, the study and the results show that the model of pricing of declining capital and adjusting capital in explaining the cost of capital compared to the model of standardized capital asset pricing has more power Has enjoyed. It should be noted that the variables of the research are calculated with Excel software, and then the data are combined / combined at the company level using the software EViews9