A Robust Application of the Arbitrage Pricing Theory: Evidence from Nigeria
نویسندگان
چکیده
منابع مشابه
Virtual Arbitrage Pricing Theory
We generalize the Arbitrage Pricing Theory (APT) to include the contribution of virtual arbitrage opportunities. We model the arbitrage return by a stochastic process. The latter is incorporated in the APT framework to calculate the correction to the APT due to the virtual arbitrage opportunities. The resulting relations reduce to the APT for an infinitely fast market reaction or in the case wh...
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ژورنال
عنوان ژورنال: Journal of Economics and Behavioral Studies
سال: 2017
ISSN: 2220-6140
DOI: 10.22610/jebs.v9i1.1565