search query: @author Oestermark, R. / total: 3
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| Author: | Oestermark, R. |
| Title: | Empirical evidence on the capital asset pricing model /CAPM/ in two Scandinavian stock exchanges |
| Journal: | Omega
1991 : APR, VOL. 19:4, p. 223-234 |
| Index terms: | CAPITAL ASSET PRICING STOCK EXCHANGES SCANDINAVIA REGRESSION ANALYSIS SWEDEN |
| Language: | eng |
| Abstract: | The CAPM is estimated with comparable Finnish and Swedish stock market data. A lower coefficient of determination is obtained with Finnish Stock data. With Swedish data, the explanatory power of squared beta and standard error components is markedly better. In so far as the sign of the regression coefficients is concerned, the Finnish models show a better correspondence with international evidence on the malfunctioning of the CAPM. The finding suggests the standard CAPM is unable to represent the economic forces of capital asset pricing, especially in Sweden. |
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