Access the full text.
Sign up today, get DeepDyve free for 14 days.
Philip Dybvig (1983)
An explicit bound on individual assets' deviations from APT pricing in a finite economyJournal of Financial Economics, 12
R. Litzenberger, K. Ramaswamy, Howard Sosin (1980)
On the CAPM Approach to the Estimation of A Public Utility's Cost of Equity CapitalJournal of Finance, 35
S. Ross (1975)
Return, Risk and Arbitrage
Richard Roll, S. Ross (1980)
An Empirical Investigation of the Arbitrage Pricing TheoryJournal of Finance, 35
N. Chen, Richard Roll, S. Ross (1986)
Economic Forces and the Stock MarketThe Journal of Business, 59
Richard Roll (1977)
A Critique of the Asset Pricing Theory''s Tests: Part I
M. Ehrhardt (1987)
ARBITRAGE PRICING MODELS: THE SUFFICIENT NUMBER OF FACTORS AND EQUILIBRIUM CONDITIONSJournal of Financial Research, 10
R. Pettway, Bradford Jordan (1987)
APT VS. CAPM ESTIMATES OF THE RETURN-GENERATING FUNCTION PARAMETERS FOR REGULATED PUBLIC UTILITIESJournal of Financial Research, 10
Charles Trzcinka (1986)
On the Number of Factors in the Arbitrage Pricing ModelJournal of Finance, 41
McElroy (1988)
Arbitrage pricing theory as a restricted multivariate regression modelJournal of Business and Economic Statistics, 6
M. McElroy, E. Burmeister (1988)
Arbitrage pricing theory as a restricted nonlinear multivariate regression model: Iterated nonlinear seemingly unrelated regression estimatesJournal of Business & Economic Statistics, 6
Mark Grinblatt, S. Titman (1983)
Factor pricing in a finite economyJournal of Financial Economics, 12
Richard Roll, S. Ross (1983)
Regulation, the capital-asset pricing model, and the arbitrage pricing theory
Roll Roll (1977)
A critique of the asset pricing theory's testsJournal of Financial Economics, 4
B. Lehmann, D. Modest (1988)
The empirical foundations of the arbitrage pricing theoryJournal of Financial Economics, 21
Dorothy Bower, R. Bower, D. Logue (1984)
Arbitrage Pricing Theory and Utility Stock ReturnsJournal of Finance, 39
Capital asset pricing model (CAPM) and alternative arbitrage pricing theory (APT) methodologies are used to estimate the cost of capital for a sample of electric utilities. The statistical factors APT method is found to produce significantly different estimates depending on the number of factors specified and the set of firms factor analyzed. The use of macroeconomic factors is explored, and it is shown that this methodology has advantages over the statistical factors APT and the market model.
The Journal of Financial Research – Wiley
Published: Sep 1, 1991
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.