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| Author: | González, M. F. |
| Title: | CAPM performance in the Caracas Stock Exchange from 1992 to 1998 |
| Journal: | International Review of Financial Analysis
2001 : VOL. 10:3, p. 333-341 |
| Index terms: | CAPITAL ASSET PRICING STOCK EXCHANGES VENEZUELA |
| Language: | eng |
| Abstract: | The capital asset pricing model (CAPM) is tested using data of all available stocks in the Caracas Stock Exchange (CSE) from 1992 to 1998. The authors use a multiple regression model to test several hypotheses that lead to the validation of the CAPM. They find significant evidence to conclude that the CAPM should not be used to predict stock returns in the CSE. |
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