Testing Agency Model in Capital Asset Pricing
A new area in capital asset pricing is violation of direct investment assumption leading to agency CAPM. The aim of this study is to make a comparative analysis between direct and agency capital asset pricing models. So, we compared single-factor, FF three-factor and five-factor CAPM concerning agen...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
| Published: |
University of Tehran
2017-12-01
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| Series: | تحقیقات مالی |
| Subjects: | |
| Online Access: | https://jfr.ut.ac.ir/article_66706_09702ad52cb51ec54cb3bc05b668044d.pdf |