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Volume 19 No 7 (2021)
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Testing The Capital Asset Pricing Model: An Empirical Study Of The Nifty 500
Dr Deepak Sehgal, Svetlana Sehgal
Abstract
Asset pricing theories have contended that sole factor explaining the differences in the expected returns of
various securities are the various risks attached with it. Factors explaining cross section of stock return has
mushroomed over years, with models ranging from a single risk factor (Capital Asset Pricing Model (CAPM))
attributable to Sharpe (1964) to five risk factors (Fama-French 2015).
Keywords
Capital Asset Pricing Model, risk, returns, BJS approach, portfolios
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