23. Are factor models consistent with the CAPM? If returns are determined by a one-factor model (where

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23. Are factor models consistent with the CAPM? If returns are determined by a one-factor model (where that factor is the return on the market portfolio) and the CAPM holds, what relationships must exist between the two models?

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Investments

ISBN: 9788120321014

6th Edition

Authors: William F. Sharpe, Gordon J. Alexander, Jeffery V. Bailey

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