) arbitrage theory of corporate liability pricing to study theoretical constraints on the risk premia that could be generated in … the market for call money. Apparently, if there is no arbitrage in the U.S. financial markets, the implication is that the …

securities return caused by the skewness and kurtosis of the stock returns distributions, and poses a re-modified the arbitrage … reasonable explanation level for securities pricing. -- arbitrage pricing models ; skewness ; Kurtosis ; empirical analysis …