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fama_macbeth_tests_1973

上传者: 2019-07-27 07:00:32上传 PDF文件 500kb 热度 20次
ThispaperteststherelationshipbetweenaveragereturnandriskforNewYorkStockExchangecommonstocks.Thetheoreticalbasisofthetestsisthe"two-parameter"portfoliomodelandmodelsofmarketequilibriumderivedfromthetwo-parameterportfoliomodel.Wecan-no!rejectthehypothesisofthesemodelsthatthep
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