The purpose behind this study is to explore the relationship between expected return and risk ofportfolios. It is observed that standard CAPM is inappropriate, so we introduce higher moment inmodel. For this purpose, the study takes data of 60 listed companies of Karachi Stock Exchange100 index....

The intention of this study is to analyze the variability of Arbitrage price theory (APT) in case of KSE. The data from Jan 1985 to Dec 2008 is monthly based has been considered and two econometric methodologies, Johanson co integration and Error correction model are used to checkout the...

Financial Equilibrium models have been widely studied in finance literature especially with respect to asset pricing theories. Validity of CAPM and Preference of APT over CAPM has been interest of academia as well as professionals. This research investigates number of potential factors...

Our aim is to identify common risk factors among some pre-determined macroeconomic variables in a way that whether they are presented significant risk premiums in pricing equation that was given above. First we identified number of potential factors explaining returns in Turkish markets as...