The Association between Market-Determined and Accounting-Determined Measures of Systematic Risk: Some Further Evidence

William Beaver and James Manegold

Journal of Financial and Quantitative Analysis, 1975, vol. 10, issue 2, 231-284

Abstract: The measurement and determination of risk have received considerable attention in recent years. One measure of risk is systematic risk, defined in terms of the covariance of a security's return with the return from the market portfolio. The relationship is often standardized by dividing the covariance by the variance of return from the market portfolio. Hereafter, this measure of standardized systematic risk shall be referred to as beta.

Date: 1975
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