Keywords: Systematic risk
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Journal Articles
Journal of Derivatives and Quantitative Studies: Seonmul yeon’gu (2020) 28 (4): 209–227.
Published: 04 November 2020
...Dae Jin Kang; Soo-Hyun Kim Purpose The capital asset pricing model has failed to explain the effect of systematic risk (referred to as beta) on actual stock market returns. Accordingly, this study analyzes daily returns by splitting it into overnight and daytime returns. The study analysis...

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