Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk

  title={Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk},
  author={F SharpeWilliam},
The effect of income shifting on the implied cost of equity capital: evidence from US multinational corporations
This study examines the effect of income shifting on the implied cost of equity capital (ICOE) for US multinational corporations (MNCs). We find that income shifting is significantly positivelyExpand
The Elephant in the Ground: Managing Oil and Sovereign Wealth
Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and ignore above-ground assets when extracting oil. We present a unified frameworkExpand
Pricing Without Mispricing
We investigate whether various asset pricing models could hold in an efficient market. Assuming decade-old information should be priced correctly, we test whether a model assigns zero alpha toExpand
Aggregate Liquidity Premium and Cross-Sectional Returns: Evidence from China
The Chinese stock market incurs huge illiquidity costs. Liquidity has different aspects but literature rarely measures it from an aggregate perspective. To capture liquidity along various dimensionsExpand
Analysis of Optimization Model of Haji Financial Investment Portfolio in BPKH RI (Haji Financial Management Agency of the Republic of Indonesia)
Financial management board hajj is an institution in which manages investment funds haji who uses the shariah principle in Indonesia. This study aims to analyze the optimization of Indonesian BPKHExpand
Bank Regulation and Level of Non performing Loans in Commercial Banks in Nakuru County Kenya
The study sought to determine the effect of bank regulation and level of nonperforming loans in commercial banks in Nakuru County Kenya. The specific objectives of the study were to explore theExpand
Incomplete Contracts, Price, and Quality: Hedge Funds' Fees and Performance
When sellers set the price for ex-ante unobservable and ex-post unenforceable quality, price signals credence quality. Hedge funds resemble incomplete long-term contracts for credence goods underExpand
Low-Risk Effect: Evidence, Explanations and Approaches to Enhancing the Performance of Low-Risk Investment Strategies
The authors offer evidence for low-risk effect from the Indian stock market using the top-500 liquid stocks listed on the National Stock Exchange (NSE) of India for the period from January 2004 toExpand