A two-pass model study of the CAPM: evidence from the UK stock market.
(2012)
Journal Article
Hwang, T., Gao, S. S., & Owen, H. (2012). A two-pass model study of the CAPM: evidence from the UK stock market. Studies in economics and finance, 29, 89-104. https://doi.org/10.1108/10867371211229118
Purpose – There has been considerable debate on the linear relationship between systematic risk and return. The purpose of this study is to investigate whether security return can be explained by systematic risk. Design/methodology/approach – Thi... Read More about A two-pass model study of the CAPM: evidence from the UK stock market..