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Risk-Return Relationship and Portfolio Management pp 3–17Cite as

Capital Asset Pricing Model: An Overview

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Part of the book series: India Studies in Business and Economics ((ISBE))

Abstract

There is conflicting evidence on the applicability of Capital Asset Pricing Model in the Indian stock market . Data for 158 stocks listed on the Bombay Stock Exchange was analysed using a number of tests from 1991 to 2002, the period which roughly coincides with the period after liberalization and initiation of capital market reforms. Taken in aggregate the various empirical tests show that CAPM is not valid for the Indian stock market for the period studied.

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Benjamin Franklin

Originally published in Asia-Pacific Journal of Management Research and Innovation (Previously titled Asia Pacific Business Review), Vol. 1, No. 2. Copyright © 2005 Asia-Pacific Institute of Management, New Delhi. All rights reserved. Reproduced with the permission of the copyright holders and the publishers, SAGE Publications India Pvt. Ltd., New Delhi. The original paper was co-authored by Dr. Rohini Singh, Lecturer, Shaheed Sukhdev College of Business Studies, University of Delhi. See Dhankar and Singh (2005).

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Authors and Affiliations

  1. Faculty of Management Studies (FMS), University of Delhi, New Delhi, Delhi, India

    Raj S. Dhankar

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  1. Raj S. Dhankar
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Correspondence to Raj S. Dhankar .

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Dhankar, R.S. (2019). Capital Asset Pricing Model: An Overview. In: Risk-Return Relationship and Portfolio Management. India Studies in Business and Economics. Springer, New Delhi. https://doi.org/10.1007/978-81-322-3950-5_1

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