A STUDY OF THE COMPARISONS OF RISK AND RATES OF RETURN OF BUILDING MATERIALS BUSINESS BY CAPITAL ASSET PRICING MODEL (CAPM) : SECURITIES CASES DCON, DRT, Q-CON, RCI, SUPER, ANDTASCO

Abstract

The purpose of this study is 1) The study of risk and rate of return on the
securities in Building materials business, and 2) To compare the rate of return
expected rate on the securities, the securities in Building materials business sector BY
CAPITAL ASSET PRICING MODEL (CAPM) the actual yield of the securities sector of
building materials information collected from report includes trading on the Stock
Exchange of Thailand SET INDEX Securities and construction materials business sector
the studied building materials business sector Securities Exchange-listed securities 6
securities 1) DCON Products Public Company Limited.: DCON, 2) Diamond Building
Products Public Company Limited. : DRT, 3) Quality Construction Products Public
Company Limited. : Q-CON, 4) The Royal Ceramic Industry Public Company Limited. :
RCI, 5) Superblock Public Company Limited.: SUPER and 6) Tip co Asphalt Public
Company Limited. : TASCO studies using secondary data daily. From 1 January 2554
to 31 December 2555 for a total period of 489 days, the tools used in the study,
including the analysis of the stock using the CAPM theory Securities Market Line
(SML).The result founded that, Compare the yield of the securities sector of building
materials with market returns. The Securities sector of building materials to the market rate of return higher than 4 securities the Q-CON, SUPER, DCON and RCI,
respectively, and the Securities sector of building materials that provide belowmarket
rate of return on the securities is the number two respectively TASCO DRT
and risk as measured by beta results showed that The risk of a stock is equal to
1.3274 compared to the yield of the securities in the building materials sector the
securities sector, including building materials. TASCO, SUPER, RCI, DRT, Q-CON and
DCON a lower risk than the market. And on the rate of return is expected to get
construction materials business sector of securities compared to the rate of return
required by the Securities sector found that the CAPM model materials to create a
group that is less than it should be. (Undervalued) with five securities are securities
DCON, DRT, Q-CON, RCI, and building materials business sector SUPER securities are
valued higher than it should be (Overvalued) is the first Asset Securities TASCO.