Hello, Login
X

Forgot Password?

Join Us

to start. Not a member? Join Today!
LinkedIn Join us on
Investment Management Information
“Bridging the theory & practice of investment management”
Email
Advanced Search →
  • Home
  • Journal
    • About
    • Subscribe to the Journal
      • Subscriptions
      • Library Subscriptions
    • Harry M. Markowitz Award
    • Submit a Paper
      • Article Guidelines
      • Practitioner’s Guidelines
    • Reprints & Permissions
  • Conferences
    • JOIM Conference Events
    • About
    • Membership
    • Board Members
  • Library Access
  • Contact
  • Help

0 comments / 2015-02-02 /

THE TREYNOR CAPITAL ASSET PRICING MODEL

Craig W. French

History generally accords the development of the single-period, discrete-time Capital Asset Pricing Model (CAPM) to the works of Sharpe (1964), Lintner (1965a,b) and Mossin (1966).We explore the early work of another notable financial economist, Jack L. Treynor, who also deserves credit for the original Capital Asset Pricing Model because of his revolutionary manuscripts—“Market Value, Time, and Risk”, Treynor (1961), and “Toward a Theory of Market Value of Risky Assets”, Treynor (1962)—which were circulated during the 1960s in mimeographed draft form but have never been published in an academic or practitioner journal. Mr. Treynor’s early work appears to have predated and anticipated Sharpe (1964), Lintner (1965a,b) and Mossin (1966). However, while financial economists initially credited Mr. Treynor for his innovation, the Treynor CAPM has not enjoyed a broad public reach. This, apparently, is the reason Mr. Treynor is not consistently recognized as one of the primary architects of the CAPM.

Checkout Added to cart

Next Article: A PRACTICAL FRAMEWORK FOR PORTFOLIO CHOICE

Previous Article: GREAT MOMENTS IN FINANCIAL ECONOMICS: II. MODIGLIANI–MILLER THEOREM

JOIM

    Library Access

    Subscribe to the Journal
    Submit a Paper
    Harry M. Markowitz Award
    Editorial Board
    Upcoming Conferences

    Edit Profile

Recent Comments

    JOIM

      About the JOIM
    • Library Access
    • Subscribe to the Journal
    • Submit a Paper
    • Editorial Board
    • Harry M. Markowitz Award
    • Licensing Rights and Advertising
    • Terms and Conditions

    JOIM Conference Series

    • About
    • Upcoming Conferences
    • Membership
    • Board Members
    • Terms & Conditions
    Speaker Reimbursement Policy

    Contact

    Journal Of Investment Management (JOIM)
    3658 Mt. Diablo Blvd., Suite 200
    Lafayette, CA 94549
    www.joim.com

    customerservice @ joim.com
    (925) 299-7800

    Copyright 2019 — Journal Of Investment Management design by SEO Web Designers