The arbitrage theory of capital asset pricingStephen A. Ross1976-12-01articleJournal of Economic Theory7,081 citationsclosedNo readable copy stored yet — this record is metadata only.Financial Markets and Investment StrategiesFinancial Risk and Volatility ModelingCOVID-19 Pandemic ImpactsAbstractNo abstract was published for this record.Citations in this libraryStored only when both papers are in the corpus — 7,081 citations exist upstream.References1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*1965The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets1975THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.]1964Risk Aversion in the Small and in the Large1976Risk Aversion in the Small and in the Large1972Capital Market Equilibrium with Restricted Borrowing1976Essays on Economic Behavior Under Uncertainty.Cited by1993Common risk factors in the returns on stocks and bonds1992The Cross-Section of Expected Stock Returns1984Financial Intermediation and Delegated Monitoring1996Multifactor Explanations of Asset Pricing Anomalies1976Option pricing when underlying stock returns are discontinuous1997Industry costs of equity1991Efficient Capital Markets: II1995The Limits of Arbitrage