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The Arbitrage Pricing Theory as an Approach to Capital Asset Valuation
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The Arbitrage Pricing Theory (APT) serves as a foundational framework for understanding the determinants of stock returns and the relationship between risk and return in financial markets. This thesis explores APT's principles, contrasting them with the traditional Capital Asset Pricing Model (CAPM), and examines its theoretical and empirical developments over two decades. It delves into the nature of risk in financial assets, offers insights into various valuation methods, and concludes with practical implications for investors, highlighting the significance of arbitrage in finance.
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The Arbitrage Pricing Theory as an Approach to Capital Asset Valuation, Christian Koch
- Language
- Released
- 2009
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- Title
- The Arbitrage Pricing Theory as an Approach to Capital Asset Valuation
- Language
- English
- Authors
- Christian Koch
- Publisher
- GRIN Verlag
- Released
- 2009
- Format
- Paperback
- Pages
- 80
- ISBN13
- 9783640277858
- Category
- Business and Economics
- Description
- The Arbitrage Pricing Theory (APT) serves as a foundational framework for understanding the determinants of stock returns and the relationship between risk and return in financial markets. This thesis explores APT's principles, contrasting them with the traditional Capital Asset Pricing Model (CAPM), and examines its theoretical and empirical developments over two decades. It delves into the nature of risk in financial assets, offers insights into various valuation methods, and concludes with practical implications for investors, highlighting the significance of arbitrage in finance.