The Capital Asset Pricing Model: Dead and Kicking

Massimiliano Neri ()
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Massimiliano Neri: Universidad Francisco Marroquín

A chapter in The Emergence of a Tradition: Essays in Honor of Jesús Huerta de Soto, Volume I, 2023, pp 209-225 from Springer

Abstract: Abstract The capital asset pricing model has been object of violent theoretical and empirical criticism in the mainstream financial literature. This chapter overviews the main controversies, presents the most innovative alternatives, and explains why the model, despite its shortcomings, remains the backbone of finance literature and financial practice.

Keywords: Asset pricing; Fama-French factors; Factor investing; Factor zoo; cost of capital; cost of equity (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-17414-8_18

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DOI: 10.1007/978-3-031-17414-8_18

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