The ability to accurately price equity is an ineluctable requirement within businesses where decisions need to be taken daily that impact upon the future viability of that business. The Capital asset pricing model (CAPM) is the preeminent tool, that has become entrenched within academia and...

This research examines the association between Black Economic Empowerment (BEE) score and shareholder return. We look at the effect of a change in BEE score on abnormal returns for shareholders, as well as at the long term performance of holding portfolios ranked on BEE score. The study takes...