Cheng, Ai-ru; Jahan-Parvar, Mohammad R.; Rothman, Philip - Volkswirtschaftliche Fakultät, … - 2009
This paper studies excess market returns in the relatively understudied nancial markets of nine Middle Eastern and North African (MENA) countries within the context of three variants of the Capital Asset Pricing Model: the static international CAPM; the constant-parameter intertemporal CAPM; and...