1
Faculty of Social Sciences & Economics, Alzahra University, Tehran, Iran
2
PhD of Financial Management, Islamic Azad University, Iran
Abstract
The result of empirical research in the capital market indicates that the pricing of securities is such that those who are more risk-takers will gain more returns in the long run. So far, various models have been proposed to explain the relationship between risk and returns. In line with these models, the modified capital asset pricing model (MCAPM) as other pricing models and It is also proposed as one of the CAPM asset pricing models. Therefore, the present study attempts to examine the empirical test of this model in Tehran Stock Exchange, which shows that the MCAPM model has more explanatory power than traditional CAPM in relation to stock returns. In other words, adding a variable in the traditional model has improved.
Abbasi,E. and Kaviani,M. (2019). Experimental Test and Evaluate the Possibility of Using Traditional CAPM Model and MCAPM in the Tehran Stock Exchange. Accounting and Auditing Studies, 8(29), 17-36.
MLA
Abbasi,E. , and Kaviani,M. . "Experimental Test and Evaluate the Possibility of Using Traditional CAPM Model and MCAPM in the Tehran Stock Exchange", Accounting and Auditing Studies, 8, 29, 2019, 17-36.
HARVARD
Abbasi E., Kaviani M. (2019). 'Experimental Test and Evaluate the Possibility of Using Traditional CAPM Model and MCAPM in the Tehran Stock Exchange', Accounting and Auditing Studies, 8(29), pp. 17-36.
CHICAGO
E. Abbasi and M. Kaviani, "Experimental Test and Evaluate the Possibility of Using Traditional CAPM Model and MCAPM in the Tehran Stock Exchange," Accounting and Auditing Studies, 8 29 (2019): 17-36,
VANCOUVER
Abbasi E., Kaviani M. Experimental Test and Evaluate the Possibility of Using Traditional CAPM Model and MCAPM in the Tehran Stock Exchange. Accounting and Auditing Studies, 2019; 8(29): 17-36.
