Levered and Unlevered Betas!PE
So I have regressed the equity returns on the stock market returns. I have obtained the beta. SO, is this (EQUITY?) beta I have obtained levered or unlevered? and if it's levered and I use the Hamada equation to find unlevered beta, will this give me the asset beta?
I also don't understand the fact that if we have obtained the equity beta (i think you call it that) through the regression, why don't we multiply it by the market value of equity as a proportion of the sum of debt and equity to obtain the asset beta instead of using Hamada?
Your help is so much appreciated!