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摘要：Empirical test doesn’t offer satisfying result as for the explaining power of CAPM in the real world, especially in model 1 without controlling variables for the features of different companies, there are many reasons for this fact, and the most important ones are followings.

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U:ABC 0.791 12.96 U:BCR 0.488 22.92 U:COP 1.131 13.86
company β E(rp) company β E(rp) company β E(rp)
@AMGN 0.593 17.19 @CA 0.943 2.79 U:CNX 1.5 23.48
U:APH 1.362 32.58 U:COG 1.083 16.61 U:ED 0.393 10.88
U:APC 0.951 24.23 U:CAM 1.423 26.11 U:STZ 1.229 10.51
U:ADI 1.168 17.21 U:CPB 0.575 55.76 U:CEG 0.647 16.51
U:AOC 0.596 15.36 U:COF 1.765 6.34 U:CVG 1.714 11.39
U:APA 1.115 19.78 U:CAH 0.974 24.34 U:CBE 1.59 26.04
U:AIV 1.738 -2.83 U:CCL 1.382 12.62 U:GLW 1.413 25.68
@APOL 0.466 66.03 U:CAT 1.652 44.99 @COST 0.8 12.19
@AAPL 1.143 28.52 U:CBG 1.831 35.99 U:CVH 1.541 20.03
@AMAT 1.176 23.63 U:CBS 2.1 5.54 U:COV -5.05
U:ADM 0.457 20.53 @CELG 0.865 9.4 U:CSX 1.192 15.16
U:AIZ 2.092 16.82 U:CNP 0.812 23.71 U:CMI 1.729 23.8
U:T 0.657 10.35 U:CTX 1.76 5.46 U:CVS 0.714 12.81
@ADSK 1.943 30.37 U:CTL 0.897 12.69 U:DHI 1.228 -11.84
@ADP 0.545 20.41 @CEPH 0.67 -14.68 U:DHR 0.916 17.42
company β E(rp) company β E(rp) company β E(rp)
U:DRI 1.286 17.33 U:FDO 0.279 20.38 U:HPQ 0.968 18.95
U:DVA 0.633 25.64 @FAST 0.919 24.08 U:HNZ 0.706 40.39
U:DF 1.04 14.12 U:FII 0.889 39.42 U:HD 0.705 21.43
U:DE 1.637 24.87 U:FDX 0.898 16.68 U:HON 1.355 25.81
@DELL 1.213 73.1 U:FIS 0.449 U:HRL 0.7 16.37
@XRAY 1.052 18.61 @FITB 1.264 11.22 U:HSP 0.717 8.81
U:DDR 1.207 10.63 U:FHN 0.713 -7.4 U:HST 2.046 13.72
U:DVN 1.098 18.37 U:FE 0.532 14.53 @HCBK 0.837 6.2
U:DO 0.926 32.58 @FISV 0.968 17.94 U:HUM 1.054 23.51
U:DFS 10.35 @FLIR 1.037 26.75 @HBAN 1.117 1.68
U:D 0.621 22.75 U:FLS 1.613 22.11 U:ITW 1.042 20.36
U:DOV 1.321 17.25 U:FLR 1.318 26.63 U:RX 1.212
U:DOW 1.444 15.84 U:F 0.725 -251.78 U:IR 1.693 108.59
U:DPS 12.02 U:FRX 0.99 15.87 U:TEG 1.005 10.54
U:DTE 0.7 16.6 U:FO 1.443 14.64 @INTC 1.236 17.55
U:DUK 0.506 6.34 U:FPL 0.603 12.7 U:ICE 1.353 24.92
U:DNB 0.5 U:BEN 1.473 25.3 U:IBM 0.793 36.57
U:DYN 1.531 7.78 U:FCX 1.675 35.49 U:IPG 1.21 8.15
U:DD 1.367 29.66 U:FTR 0.982 20.88 U:IFF 0.807 32.47
@ETFC 1.826 -41.04 U:GME 1.299 17.8 U:IGT 1.606 29.08
U:EMN 1.384 14.59 U:GCI 1.864 U:IP 1.785 14.04
U:EK 1.933 30.61 U:GPS 0.92 17.63 @INTU 0.931 23.32
U:ETN 1.333 21.43 U:GD 1.244 19.19 @ISRG 1.453 19.55
@EBAY 1.567 3.08 U:GE 1.429 19.56 U:IVZ 10.56
U:ECL 0.633 23.63 U:GIS 0.404 20.63 U:IRM 1.022 9.14
U:EIX 0.857 13.62 U:GM 1.4 U:ITT 1.226 21.8
U:EP 1.566 -6.9 U:GPC 0.659 19.23 U:SJM 0.763 8.92
company β E(rp) company β E(rp) company β E(rp)
@ERTS 1.286 2.04 U:GNW 1.302 9.07 U:JBL 1.485 3.09
U:LLY 1.089 24.12 @GENZ 0.781 7.81 U:JEC 1.443 17.58
U:EQ 0.897 @GILD 0.722 61.24 U:JNS 1.965 5.77
U:EMC 0.913 14.58 U:GS 1.445 31.52 @JDSU 1.702 -1.58
U:EMR 1.14 25.24 U:GR 1.151 21.18 U:JNJ 0.644 25.6
U:ESV 1.349 28.47 U:GT 2.206 57.55 U:JCI 1.47 15.4
U:ETR 0.604 13.82 @GOOG 1.13 21.16 U:JPM 1.243 12.86
U:EOG 0.823 17.29 U:HRB 1.032 -24.35 @JNPR 1.089 6.29
U:EQT 0.994 25.2 U:HAL 1.531 49.14 U:KBH 1.631 -40.92
U:EFX 1.14 24.38 U:HOG 1.8 36.39 U:K 0.67 48.01
U:EQR 1.527 18.56 U:HAR 1.84 23.07 U:KEY 1.279 11.9
U:EL 1.365 31.84 U:HRS 1.161 26.94 U:KMB 0.45 32.2
U:EXC 0.723 27.21 U:HIG 1.352 15.78 U:KIM 2.395 13.12
@EXPE 1.549 5.52 U:HAS 1 22.79 U:KG 0.821 7.63本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。