The empirical foundations of the arbitrage pricing theory

Maximum Likelihood from Incomplete Data Via the <i>EM</i> Algorithm

A. P. Dempster, N. M. Laird, Donald B. Rubin · Journal of the Royal Statistical Society Series B (Statistical Methodology) · 1977 · 49.7K citations

Public Health, Biostatistics, Bayesian Data Analysis +16

Risk, Return, and Equilibrium: Empirical Tests

Eugene F. Fama, James D. MacBeth · Journal of Political Economy · 1973 · 15.1K citations

Business, Economics, Finance +17

The arbitrage theory of capital asset pricing

Stephen A. Ross · Journal of Economic Theory · 1976 · 7.2K citations

Business, Economics, Finance +14

A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory

Richard Roll · Journal of Financial Economics · 1977 · 3.1K citations

Business, Economics, Finance +14

The Capital Asset Pricing Model: Some Empirical Tests

Fischer Black, Michael C. Jensen, Myron S. Scholes · 1972 · 2.7K citations

Business, Economics, Finance +15