Raza, Syed Ali; Jawaid, Syed Tehseen; Hussain, Adeel - In: International Journal of Managerial and Financial Accounting 6 (2014) 3, pp. 227-250
This study investigates the validity and acceptability of capital asset pricing model (CAPM) in four different stock exchanges of Asian countries. The paired sample t-test is applied to find the difference between actual and expected returns. Results confirm that CAPM accurately predict the...