Li, Bin; Liu, Benjamin; Roca, Eduardo - In: Australian Journal of Management 36 (2011) 2, pp. 247-266
We test conditional consumption capital asset pricing models (CCAPMs) in the Australian equity market. The conditional variables used are Lettau and Ludvigson’s (2001a, b) consumption–wealth ratio, Campbell and Cochrane’s (1999) surplus consumption ratio and Santos and...
