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(i) Explain the empirical tests of CAPM by Fama and McBeth. (ii) Explain why the empirical tests of Black, Jensen and Scholes support the zerobeta
(i) Explain the empirical tests of CAPM by Fama and McBeth.
(ii) Explain why the empirical tests of Black, Jensen and Scholes support the zerobeta version of CAPM rather than the standard version of CAPM.
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