A new class of Capital Asset Pricing Models (CAPM) arises from the first principle of real investment for individual … firms. Conceptually as "causal"' as the consumption CAPM, yet empirically more tractable, the investment CAPM emerges as a … drives many empirical patterns that are anomalous in the consumption CAPM. Most important, integrating the anomalies …

A new class of Capital Asset Pricing Models (CAPM) arises from the first principle of real investment for individual … firms. Conceptually as ‘causal' as the consumption CAPM, yet empirically more tractable, the investment CAPM emerges as a … drives many empirical patterns that are anomalous in the consumption CAPM. Most important, integrating the anomalies …

. Conceptually as “causal” as the consumption CAPM, yet empirically more tractable, the investment CAPM emerges as a leading asset … empirical patterns that are anomalous in the consumption CAPM. Most important, integrating the anomalies literature in finance … and accounting with neoclassical economics, the investment CAPM succeeds in mounting an efficient markets …