000			01702nam a2200145 4500
999			_c508834 _d508834
008			190412b ||||| |||| 00| 0 eng d
100			_aSreenu, Nenavath _94348
245			_aAn empirical test of capital asset-pricing model and three-factor model of Fama in Indian Stock exchange
260			_c2018
300			_ap.294-307.
520			_aThis article aims to test the capital asset-pricing model (CAPM) and three-factor model of Fama in Indian Stock Exchange, and it has focused on the recent growth of capital markets in India and the need of practitioners in these markets to determine a stable price for securities, and achieving expected returns has brought into consideration the theories predicting price securities Among different models the CAPM of Sharp. The study uses a sample of daily data and annual average for 54 companies listed on the National Stock Exchange, during the period from 2010 to 2016. The research article’s intention is to find whether the relationship between expected return and risk is linear, if beta is a complete measure of the risk and if a higher risk is compensated by a higher expected return. The results confirm that the intercept is statistically insignificant, upholding theory, for both individual assets and portfolios. The tests do not essentially provide validation against CAPM and Fama; however, other simulations can be built, more close to reality, by improving the model and offering an alternative which also takes into account the specific conditions of the Indian capital market and the global financial crisis consequences. - Reproduced.
773			_aManagement and Labour Studies
906			_aStock exchange - India
942			_2ddc _cAR