CAPM for Estimating the Cost of Equity Capital: Interpreting the Empirical Evidence
收藏NBER2009-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14889
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资源简介：
We argue that the empirical evidence against the Capital Asset Pricing Model (CAPM) based on stock returns does not invalidate its use for estimating the cost of capital for projects in making capital budgeting decisions. Since stocks are backed not only by projects in place, but also the options to
提供机构：
美国国家经济研究局
创建时间：
2009-04-01
