Results 31 to 40 of about 15,572 (250)
AxiomsThe main objective of this article is to present the formulation of a Capital Asset Pricing Model ordered weighted average CAPMOWAand its extensions, called CAPM-induced OWA (CAPMIOWA), CAPM Bonferroni OWA (CAPMBon-OWA), and CAPM Bonferroni-induced OWA ...
Cristhian R. Uzeta-Obregon +5 more
doaj +1 more source
q-Factors and Investment CAPM [PDF]
SSRN Electronic Journal, 2019 The Hou–Xue–Zhang q-factor model says that the expected return of an asset in excess of the risk-free rate is described by its sensitivities to the market factor, a size factor, an investment factor, and a return on equity (ROE) factor. Empirically, the q-factor model shows strong explanatory power and largely summarizes the cross-section of average ...
Lu Zhang, Lu Zhang
openaire +3 more sources
Correct or incorrect application of CAPM? Correct or incorrect decisions with CAPM? [PDF]
European Journal of Operational Research, 2009 Abstract This paper focuses on inconsistencies arising from the use of NPV and CAPM for capital budgeting. It shows that: (i) CAPM capital budgeting decision-making based on disequilibrium NPV is deductively inferred by the capital asset pricing model, (ii) the use of the disequilibrium NPV is widespread in finance both as a decision rule and as a ...
openaire +3 more sources
Comparing of the Efficiency of Capital Asset Pricing Model (CAPM) and Consumption-based Capital Asset Pricing Model (CCAPM) in Tehran Stock Exchange (TSE) [PDF]
مطالعات تجربی حسابداری مالی, 2010 The relation between risk and return, and capital asset pricing is the most basic topics in capital market. Capital Asset Pricing Model (CAPM) was suggested by Lintner and Sharpe in 1965 and has been reformed and criticized since.
F. Rostamian, Sh. Javanbakht
doaj
Valoración por el método de flujo de caja libre: finca bananera de Urabá
Apuntes Contables, 2019 La producción de banano es fundamental en la economía de la región de Urabá, por tanto, es necesario que sea más competitiva técnica y financieramente, por ello se realizó una valoración de empresa para una finca exportadora de banano ubicada en esta ...
María Camila Henao Vásquez +1 more
doaj +1 more source
The Stock Market's Anticipation of the Trump 2024 Election: The Case of Sustainable Business Models
Business Strategy and the Environment, EarlyView.ABSTRACT This study examines the impact of green revenues on US stock price reactions around Donald Trump's 2024 election win. Firms' green revenue share (GRS) is significantly associated with negative cumulative abnormal returns (CARs) post‐election, exhibiting a nonlinear effect that intensifies at higher GRS levels.
Dennis Koch, Dirk Schiereck
wiley +1 more source
ESG Messaging on Social Media and Cost of Capital: A Canadian Perspective
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l'Administration, EarlyView.ABSTRACT We examine whether environmental, social and governance (ESG) communications on social media decrease firms' cost of equity. Our results show that ESG messaging on social media does not appear to influence investors, which leads us to examine why.
Dhruv Baswal, Sean Cleary
wiley +1 more source
CAPM-Based Company (Mis)valuations
The Review of financial studies, 2017 There is a discrepancy between CAPM-implied and realized returns. Using the CAPM in capital budgeting—as recommended in textbooks—should thus have real effects. For instance, low beta projects should be valued more by CAPM users than by the market.
Olivier Dessaint +3 more
semanticscholar +1 more source
Approximate CAPM When Preferences Are CRRA [PDF]
SSRN Electronic Journal, 2002 In general equilibrium models of financial markets, the capital asset pricing formula does not hold when agents have von neumann–morgenstern utility with constant relative risk aversion. In this paper we examine under which conditions on endowments and dividends the pricing formula provides a good benchmark for equilibrium returns.
P. Jean-Jacques Herings +2 more
openaire +7 more sources
Stock Return Prediction Based on a Functional Capital Asset Pricing Model
Journal of Forecasting, EarlyView.ABSTRACT The capital asset pricing model (CAPM) is readily used to capture a linear relationship between the daily returns of an asset and a market index. We extend this model to an intraday high‐frequency setting by proposing a functional CAPM estimation approach.
Ufuk Beyaztas +3 more
wiley +1 more source