Some Results in the CAPM with Nontraded Endowments
在包含非交易禀赋的CAPM中建立了正向证券市场线，并分析了市场结构变化对证券市场线的影响，适用于研究资产定价和市场均衡的学者。
The paper establishes a positive security market line in the CAPM with nontraded endowments. The effects of a market structure change on the security market line are analyzed when the equilibrium allocation is affected by the change.