@article{jfa20221011,
author={Yilmaz, Huseyin},
title={Evolution of the CAPM: From ˇ°Premium for Riskˇ± to ˇ°Sharp-Linter-Black Modelˇ±},
journal={Journal of Finance and Accounting},
volume={10},
number={1},
pages={1--6},
year={2022},
url={http://pubs.sciepub.com/jfa/10/1/1},
issn={2333-8857},
abstract={The evolution of the Capital Assets Pricing Model (CAPM) started with the Williams [1] with the formula of ˇ°Premium for Riskˇ±. Then, Hicks [2] and Markowitz [3] gave some opinions about risk premium and the value of an individual financial asset, respectively. Then, Treynor [4] and [5] brought some contributions to the model such as risk premium for equity and present price of a share. Sharp [6] added to the model the expected rate of return and he also transferred the standard deviation from statistics to the CAPM evolution. Linther [7] gave another risk premium approach with a different formula. Mossin [8] continued to improve the CAPM with his contributions of expected rate of return on a unit of a risky asset, return of a unit of a riskless asset, and the risk margin formulas. Black [9] completed the CAPM evolution with his model called ˇ°Sharp Linther Black Modelˇ±.},
doi={10.12691/jfa-10-1-1}
publisher={Science and Education Publishing}
}