Tests of the index model that account for human capital and cyclical variations in asset betas are
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Tests of the index model that account for human capital and cyclical variations in asset betas are more supportive of the CAPM and APT. Moreover, anomalies such as the size and book-tomarket effects are somewhat mitigated once these variables are accounted for. pl856
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ISE Investments
ISBN: 9781266085963
13th International Edition
Authors: Zvi Bodie, Alex Kane, Alan Marcus
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