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International Journal for Research Trends and Innovation
International Peer Reviewed & Refereed Journals, Open Access Journal
ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
Issue per Year : 12
Volume Published : 11
Issue Published : 118
Article Submitted : 21504
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Total Authors : 22399
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| Paper Title: | Does CAPM Explains the Relationship Between Risk and Return in the Indian Stock Market |
| Authors Name: | Muzafar Ahmad Shah , Prof. Khursheed Ahmad Butt |
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| Author Reg. ID: |
IJRTI_205741
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| Published Paper Id: | IJRTI2508075 |
| Published In: | Volume 10 Issue 8, August-2025 |
| DOI: | |
| Abstract: | The aim of this study is to determine whether the capital asset pricing model exists in the Indian stock market. Using the integrated concepts of Black Janson and Scholes and Fama and Macbeth technique on portfolios rather than individual stocks. We have taken the sample of 150 midcap stocks from 2021 to 2023 (36 months). The study provides empirical evidence that there is a risk anomaly in the Indian equities market while the capital asset pricing model's assertion that risk and return are directly correlated. The study findings also demonstrate the non-linearity between portfolio betas and returns which goes against the CAPM theory. This study also explores whether the CAPM fully accounts for stock variance to test the effectiveness of unsystematic risk and our findings suggest that the residual risk is insignificant, which is according to the Capital Asset Pricing Model. |
| Keywords: | Indian stock exchange, Beta anomaly, portfolios, residual risk. |
| Cite Article: | "Does CAPM Explains the Relationship Between Risk and Return in the Indian Stock Market", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 8, page no.a610-a621, August-2025, Available :http://www.ijrti.org/papers/IJRTI2508075.pdf |
| Downloads: | 000869 |
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2508075
Registration ID:205741
Published In: Volume 10 Issue 8, August-2025
DOI (Digital Object Identifier):
Page No: a610-a621 Country: kulgam, jammu and kashmir, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2508075 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2508075 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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