Testing of Capital Assets Pricing Model (CAPM) in Cement Sector & Power Generation and Distribution Sector in Turkey

Emre Demircioglu

MPRA Paper from University Library of Munich, Germany

Abstract: This study is conducted to investigate the CAPM (Capital Asset Pricing Model) in Turkey based on the sources of information from Istanbul Stock exchange emphasizing only on the Cement Sector and Power Generation & Distribution Sector. The data range is from 1st January 2012 to 31st December 2013. In the Cement Sector we get data for 10 companies and in the Power Generation and Distribution we get data for 10 companies. The consequences are only substantial for only mention stocks and only for few years. This paper shows the relationship between the Coefficients Beta ( ) and Capital Asset Pricing Model (CAPM) of the Cement Sector and Power Generation and Distribution Sector in Turkey and then get regression analysis of Coefficients Beta ( ) and Capital Asset Pricing Model (CAPM) both of the sector shows In-significant result, which means the Capital Assets Pricing Model (CAPM) is not applicable in Turkey Cement Sector and Power Generation and Distribution Sector.

Keywords: Capital Asset Pricing Model (CAPM); Coefficients Beta; Regression (search for similar items in EconPapers)
JEL-codes: C40 G38 (search for similar items in EconPapers)
Date: 2015-01
New Economics Papers: this item is included in nep-ara and nep-cwa
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Published in International Journal of Advanced Multidisciplinary Research and Review 4.3(2015): pp. 1-25

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:61392

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