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The Arbitrage pricing theory: an assessment of the robustness of empirical techniques employed under conditions of thin trading and in the presence of non-normalities
Ever since its original development by Ross in 1976, and in spite of the objections of Shanken (1982), proponents of the Arbitrage Pricing Theory have claimed that the theory offers a testable alternative to the Capital Asset Pricing Model. Over the last decade however, empirical research into the A...
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| Format: | Thesis |
| Language: | English |
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Graduate School of Business
2024
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