THE COMPARATIVE STUDY OF RISK AND RATE OF RETURN ON THE SECURITIES IN TRANSPORTATION AND LOGISTICS BY CAPITAL ASSET PRICING MODEL (CAPM) : THE CASE STUDY OF THAI, TSTE, TTA, BMCL, RCL

Abstract

The purpose of this study is 1.) The comparative study of risk and rate of return on the securities in transport and logistics and rates of return on the market, and 2.) To compare the rate of return expected rate of return on the securities,

mutual funds, the securities in transport and logistics. Using the CAPM model, which is a group of securities in transport and logistics. Securities listed on the Stock Exchange of Thailand 5 securities, 1.) Thai Airways International Public  Company Limited : THAI 2.) Thai Sugar Terminal Public Company Limited : TSTE 3.) Theresen Thai Agencies Public Company Limited : TTA 4.) Bangkok Metro Public Company Limited : BMCL and 5.) Regional Container Lines Public Company Limited : RCL study used secondary data daily. From 4 January 2554 until 31 December 2555 for a total period of 489 days to include in the study. Analysis of the theory of CAPM (Capital Asset Pricing Model). The findings were that the securities in transportation and logistics sector investors should invest, there is one security that has its required rates of return greater than expected rates of return which is TSTE. That means this security is undervalued stock. While, the securities in transportation and logistics sector, investors should not invest, there are four securities that have their required rates of return greater than expected rates of return which include THAI, TTA, BMCL and RCL. That means these all securities are overvalued stocks.