Empirical testing of the Arbitrage Pricing Theory using data from the Johannesburg Stock Exchange
In 1976 Stephen A. Ross developed a new theory of securities pricing called the Arbitrage Pricing Theory (APT). According to the APT the return an investor can expect from a share is related to the risk-free rate and numerous other factors rather than just the return on the market as predicted by th...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
AOSIS
1986-03-01
|
| Series: | South African Journal of Business Management |
| Online Access: | https://sajbm.org/index.php/sajbm/article/view/1032 |