The Arbitrage Model of Security Returns: An Empirical Evaluation

by Bradford Jordan and Bradford D. Jordan

Book Overview

Abstract:

Over the last two decades, the Capital Asset Pricing Model (CAPM) has emerged as the dominant theoretical basis for much of the research in financial economics. Because direct observation of the market portfolio is a pre-requisite for any valid application of the CAPM, it cannot serve as a theoretical basis for empirical research in securities markets. The Arbitrage Pricing Theory (APT) is a theoretical alternative to the CAPM in...

• Format: Paperback
• Language: English
• ISBN: 0530006626
• ISBN13: 9780530006628
• Release Date: May 2019
• Publisher: Dissertation Discovery Company
• Length: 154 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.3" x 8.5" x 11.0"