Articles by Keyword: Capital Asset Pricing Model

Search results for Capital Asset Pricing Model

We found 307 results for you
  1. A review of capital market theory from a South African Perspective

    A review of capital market theory from a South African Perspective

    Item type: Journal Article • Journal: De Ratione
    The vast quantity of finance literature dealing with Capital Market Theory on the New York Stock Exchange (NYSE) is evidence of the demand for research in this area. Until very recently, almost no research In this area has been conducted...
  2. Estimating the Return Parameters of the Capital Asset Pricing Model

    Estimating the Return Parameters of the Capital Asset Pricing Model

    Item type: Journal Article • Journal: De Ratione
    The cost of equity capital is a fundamental concept In the field of finance. Its estimation often relies on the application of the Capital Asset Pricing Model. Very little help is offered to the practitioner in the selection of appropriate...
  3. Further Evidence of Firm Size and Earnings Anomalies on the Johannesburg Stock Exchange

    Further Evidence of Firm Size and Earnings Anomalies on the Johannesburg Stock Exchange

    Item type: Journal Article • Journal: De Ratione
    In spite of the large body of evidence in favour of capital market efficiency in the semi-strong form, several enigmatic findings persist. As much of the research is based on the theoretical foundation of the Capital Asset Pricing Model, the...
  4. The investment return puzzle on the Johannesburg Stock Exchange

    The investment return puzzle on the Johannesburg Stock Exchange

    Item type: Journal Article • Journal: Investment Analysts Journal
    Firms that invest into positive net present value projects should outperform firms that do not invest. Surprisingly, several studies on United States data have found a negative relationship between capital investment and subsequent shareholder return. There are conflicting explanations for...
  5. Safeguarding inheritance and enhancing the resilience of orphaned young people living in child- and youth-headed households in Tanzania and Uganda

    Safeguarding inheritance and enhancing the resilience of orphaned young people living in child- and youth-headed households in Tanzania and Uganda

    Item type: Journal Article • Journal: African Journal of AIDS Research
    This article explores the resilience of orphaned young people in safeguarding physical assets (land and property) inherited from their parents and sustaining their households without a co-resident adult relative. Drawing on the concept of resilience and the sustainable livelihoods framework,...
  6. Adding market value to a holding company

    Adding market value to a holding company

    Item type: Journal Article • Journal: South African Journal of Accounting Research
    The paper explains the forces that determine changes in the discount of Net Asset market value of the typical JSE listed holding company. It is demonstrated that a variety of events which will alter the discount automatically may have very...
  7. An argument for either excluding death as a capital gains tax event or abolishing estate duty

    An argument for either excluding death as a capital gains tax event or abolishing estate duty

    Item type: Journal Article • Journal: South African Journal of Accounting Research
    South Africa is one of the few countries in the world that imposes both estate duty and capital gains tax on the assets of a person on death. This paper presents an argument for the abolishment of estate duty in...
  8. Value and size investment strategies during the global financial crisis: evidence from the South African equity market

    Value and size investment strategies during the global financial crisis: evidence from the South African equity market

    Item type: Journal Article • Journal: South African Journal of Accounting Research
    Value/growth and size investment strategies involve the creation of equity portfolios on the bases, respectively, of intrinsic value relative to market value and market capitalisation. The propositions that a portfolio of high relative intrinsic value shares anomalously outperforms a low...
  9. Macroeconomic variables and the Johannesburg Stock Exchange: A multifactor approach

    Macroeconomic variables and the Johannesburg Stock Exchange: A multifactor approach

    Item type: Journal Article • Journal: De Ratione
    This study estimates the simultaneous relationship between a number of selected macroeconomic variables and share prices on the Johannesburg Stock Exchange (JSE). A linear factor model identical in form to that assumed by the arbitrage pricing theory (APT) is estimated...
  10. Merger imbalance and returns in international equity markets

    Merger imbalance and returns in international equity markets

    Item type: Journal Article • Journal: Investment Analysts Journal
    At the global level, the mispricing theory of mergers by Shleifer and Vishny (2003) may imply that a significant number of targets acquired in a given country is a sign of market-wide undervaluation whereas intense acquisition activity indicates overvaluation. The...