这个公式在哪里讲到的？

问题如下：

An increase in which of the following factors will decrease the marginal contribution to value added (MCVA) ？

I.      alpha of asset.

II.     risk aversion.
III.    marginal contribution to active risk of asset.

选项：

I only.

II only.

Both II and III.

None.

解释：

C is correct.

考点：marginal contribution to value added (MCVA)

解析：题目考察以下哪些因素增加会降低MCVA。MCVA的公式为Marginal Contribution To Value Added (MCVA)= (alpha of asset) - [2 ×(risk aversion) ×(active risk)× (marginal contribution to active risk of asset)].

alpha of asset增加会增加MCVA，statement I 错误。

risk aversion增加会降低MCVA，statement II 正确。

marginal contribution to active risk of asset增加会降低MCVA，statement III 正确。