文件名称：an empirical investigation of the arbitrage pricing theory.pdf
文件大小：864KB
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更新时间：2023-09-27 02:11:47
APTmodel
Empirical tests are reported for Ross'[48] arbitrage theory of asset pricing. Using data for individual equities during the 1962–72 period, at least three and probably four priced factors are found in the generating process of returns. The theory is supported in that estimated expected returns