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The Capital Asset Pricing Model, Inflation, and the Investment Horizon: The Israeli Experience

Published online by Cambridge University Press:  06 April 2009

Haim Levy
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Extract

The Capital Asset Pricing Model (CAPM), an equilibrium model for the price determination of risky assets, was developed by Sharpe [16], Lintner [9, 10] and Treynor [21], following the pioneering work of Markowitz [12, 13] and Tobin [20]. In spite of the tremendous impact of this model on the profession, the CAPM still raises many questions, and is inconsistent with a considerable body of empirical evidence.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 15 , Issue 3 , September 1980 , pp. 561 - 593
Copyright
Copyright © School of Business Administration, University of Washington 1980

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References

REFERENCES

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