CAPITAL BUDGETING AND THE CAPITAL ASSET PRICING MODEL: GOOD NEWS AND BAD NEWS

Authors

  • Stewart C. Myers,

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    • Massachusetts Institute of Technology and University of Toronto, respectively. The authors are grateful to the London Graduate School of Business Studies for research support, and to Fischer Black, Richard Brealey, Michael Brennan, Robert Merton, and Mark Rubinstein for helpful criticism of early drafts of the paper.

  • Stuart M. Turnbull

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    • Massachusetts Institute of Technology and University of Toronto, respectively. The authors are grateful to the London Graduate School of Business Studies for research support, and to Fischer Black, Richard Brealey, Michael Brennan, Robert Merton, and Mark Rubinstein for helpful criticism of early drafts of the paper.


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