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Capital Asset Pricing Model (Capm) Y Arbitrage Pricing Theory (Apt): Una Nota Técnica


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  • Fernando Rubio



En el campo de las Finanzas, uno de los tópicos de investigación más importantes en los últimos años, ha sido la Valuación de Activos de Capital. Esta pretende determinar los factores que explican la tasa de retorno de tales activos. El Capital Asset Pricing Model (CAPM) y el Arbitrage Pricing Theory (APT), los dos modelos de valuación de activos de capital desarrollados hasta ahora, son presentados aquí. Las características principales de ambos modelos que se explican aquí son los supuestos necesarios para desarrollarlos, sus planteamientos y los test empíricos llevados a cabo para contrastarlos con la realidad. Además, se presentan aplicaciones prácticas del CAPM y un análisis de las principales diferencias entre ambos modelos.

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Bibliographic Info

Paper provided by EconWPA in its series Finance with number 0402007.

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Length: 26 pages
Date of creation: 04 Feb 2004
Date of revision:
Handle: RePEc:wpa:wuwpfi:0402007

Note: Type of Document - pdf; prepared on WinXP; pages: 26
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Related research

Keywords: CAPM; APT; modelos; valuación; activos; capital;

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