The Capital Asset Pricing Model (CAPM): The History of a Failed Revolutionary Idea in Finance?

被引：43

作者：

Dempsey, Mike ^{[1
]}

机构：

[1] RMIT Univ, Sch Econ Finance & Mkt, Melbourne, Vic, Australia

来源：

ABACUS-A JOURNAL OF ACCOUNTING FINANCE AND BUSINESS STUDIES | 2013年 / 49卷

关键词：

CAPM; Fama and French three-factor model; Finance models;

D O I：

10.1111/j.1467-6281.2012.00379.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The capital asset pricing model (CAPM) states that assets are priced commensurate with a trade-off between undiversifiable risk and expectations of return. The model underpins the status of academic finance, as well as the belief that asset pricing is an appropriate subject for economic study. Notwithstanding, our findings imply that in adhering to the CAPM we are choosing to encounter the market on our own terms of rationality, rather than the market's.

引用

页码：7 / 23

页数：17