Wolski Rafał - In: Folia Oeconomica Stetinensia 8 (2009) 1, pp. 140-153
The classical approach to the SML assumes that it is a straight line, which means that an investor is willing to accept lower return on the negative beta assets than on the risk-free assets. However, Cloninger, Waller, Bendeck and Revere (2004) challenged this commonly accepted approach. The...