Add to ORKGThis paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via arbitrage pricing, (ii) standard CAPM-minded decision makers may fail to profit from arbitrage opportunities, (iii) standard CAPM-based valuation violates value additivity. As a consequence, the standard use of CAPM for project valuation and decision making should be reconsidered
This paper uses counterexamples and simple formalization to show that the standardCAPM-based Net Pre...
For one–period projects under certainty, the notion of Net Present Value (NPV) formally translates t...
In Magni [Eur. J. Operat. Res. 137 (2002) 206] I present some inconsistencies implicit in the net-pr...
This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via ar...
Abstract. This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuat...
This study shows that (a) project valuation via CAPM contradictsvaluation via arbitrage pricing, (b)...
This paper uses counterexamples and simple formalization to show that the standard CAPM-based Net Pr...
This paper shows that a decision maker using the CAPM for valuing firms and making decisions may con...
This paper focuses on inconsistencies arising from the use of NPV and CAPM for capital budgeting. It...
This paper focuses on inconsistencies arising from the use of NPV and CAPM for capital budgeting. It...
Purpose \u2013 In investment decision making, the net present value (NPV) rule is often used alongsi...
This paper deals with the use of the CAPM for investment decisions and evaluations. Four different m...
This paper uses counterexamples and simple formalization to show that the standardCAPM-based Net Pre...
For one–period projects under certainty, the notion of Net Present Value (NPV) formally translates t...
In Magni [Eur. J. Operat. Res. 137 (2002) 206] I present some inconsistencies implicit in the net-pr...
This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuation via ar...
Abstract. This paper shows that (i) project valuation via disequilibrium NPV+CAPM contradicts valuat...
This study shows that (a) project valuation via CAPM contradictsvaluation via arbitrage pricing, (b)...
This paper uses counterexamples and simple formalization to show that the standard CAPM-based Net Pr...
This paper shows that a decision maker using the CAPM for valuing firms and making decisions may con...
This paper focuses on inconsistencies arising from the use of NPV and CAPM for capital budgeting. It...
This paper focuses on inconsistencies arising from the use of NPV and CAPM for capital budgeting. It...
Purpose \u2013 In investment decision making, the net present value (NPV) rule is often used alongsi...
This paper deals with the use of the CAPM for investment decisions and evaluations. Four different m...
This paper uses counterexamples and simple formalization to show that the standardCAPM-based Net Pre...
For one–period projects under certainty, the notion of Net Present Value (NPV) formally translates t...
In Magni [Eur. J. Operat. Res. 137 (2002) 206] I present some inconsistencies implicit in the net-pr...