Capital asset prices: a theory of market equilibrium under conditions of risk
Опубликовано на портале: 03-10-2003
Journal of Finance.
1964.
Vol. 19.
No. 3.
P. 425-442.
Тематические разделы:
One of the problems which has plagued thouse attempting to predict the behavior
of capital marcets is the absence of a body of positive of microeconomic theory dealing
with conditions of risk/ Althuogh many usefull insights can be obtaine from the traditional
model of investment under conditions of certainty, the pervasive influense of risk
in finansial transactions has forced those working in this area to adobt models of
price behavior which are little more than assertions. A typical classroom explanation
of the determinationof capital asset prices, for example, usually begins with a carefull
and relatively rigorous description of the process through which individuals preferences
and phisical relationship to determine an equilibrium pure interest rate. This is
generally followed by the assertion that somehow a market risk-premium is also determined,
with the prices of asset adjusting accordingly to account for differences of their
risk.
Ссылки
текст статьи в формате pdf можно найти на сайте Ebsco:http://search.epnet.com/direct.asp?an=6637496&db=buh
на сайте Jstor:
http://links.jstor.org/sici?sici=0022-1082%28196409%2919%3A3%3C425%3ACAPATO%3E2.0.CO%3B2-O
персональной странице Уильяма Шарпа:
http://www.stanford.edu/~wfsharpe/art/art.htm
Ключевые слова
См. также:
Management Science.
1970.
Vol. 16.
No. 8.
P. B466-B485.
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