The Empirical Foundations of the Arbitrage Pricing Theory I: The Empirical Tests
收藏NBER1985-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w1725
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资源简介：
This paper provides a detailed and extensive examination of the validity of the APT based on maximum likelihood factor analysis of large cross-sections of securities. Our empirical implementation of the theory proved in capable of explaining expected returns on portfolios composed of securities with
提供机构：
美国国家经济研究局
创建时间：
1985-10-01
