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The Capital Asset Pricing Model: A Review Of The Issues


  • Harissis, H.


The aim of this paper is to review the literature relating to the theoretical basis of the Capital Asset Pricing Model (CAPM). The derivation of the CAPM is presented, followed by the empirical tests of it. There exists some further research however which is also presented, that criticize the CAPM, since it has often been challenged by statistical studies that fail to verify the validity of the model, as an adequate description of the way assets are priced.

Suggested Citation

  • Harissis, H., 2000. "The Capital Asset Pricing Model: A Review Of The Issues," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 111-130, July - De.
  • Handle: RePEc:ers:journl:v:iii:y:2000:i:3-4:p:111-130

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    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)


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