Browsing Norges Handelshøyskole by Subject "CAPM adaptations"
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A dozen consistent CAPM-related valuation models : so why use the incorrect one?
(Discussion paper, Working paper, 2006-05)This paper focuses on applications of the CAPM in capital budgeting and in valuation of "mispriced" financial assets. Most textbooks in finance do not warn against a common pitfall in discounting expected cash flows by ...