Abstract
The Capital Asset Pricing Model (CAPM) has been extensively used by academics and practitioners during the last twenty years. Particularly in the last decade the validity of tests of the model and the model itself have been challenged by many academic researchers.In the last few years a generic model of which the CAPM is said to be a sub-set, the Arbitrage Pricing Model (APM), has received increasing attention by academics. This paper is an overview of the developments in the pricing of financial assets.
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