Article Beta Excess Earnings Method 
Value Scope
JULY 21, 2020
This work can be used to reconcile and support an adjustment to the CAPM, then the WACC, via Alpha and Beta. Adjustments to Beta can accomplish this. Beta measures systemic risk, and the performance of a company as compared with a broad index like the S&P 500 or the Russell 2000. Using Alpha, however, it could be done.
Value Scope
SEPTEMBER 24, 2020
Eight years ago, an article in the Financial Times quoted the infamous management consultant Peter Drucker in the context of corporate reporting of ESG related topics: “What gets measured gets managed.” Adjustments to Beta can accomplish this. The re-levered Beta for the private company we were valuing was 0.56.
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