{"id":"https://openalex.org/W3024501741","doi":"https://doi.org/10.54784/1990-6587.1027","title":"Testing asset pricing models on the Pakistan Stock Exchange","display_name":"Testing asset pricing models on the Pakistan Stock Exchange","publication_year":2019,"publication_date":"2019-01-03","ids":{"openalex":"https://openalex.org/W3024501741","doi":"https://doi.org/10.54784/1990-6587.1027","mag":"3024501741"},"language":"en","primary_location":{"id":"doi:10.54784/1990-6587.1027","doi":"https://doi.org/10.54784/1990-6587.1027","is_oa":true,"landing_page_url":"https://doi.org/10.54784/1990-6587.1027","pdf_url":"https://ir.iba.edu.pk/cgi/viewcontent.cgi?article=1027&context=businessreview","source":{"id":"https://openalex.org/S4210230190","display_name":"Business Review","issn_l":"1990-6587","issn":["1990-6587","2788-9599"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Business Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ir.iba.edu.pk/cgi/viewcontent.cgi?article=1027&context=businessreview","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5024548616","display_name":"Kiran Lohano","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I36448004","display_name":"Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology","ror":"https://ror.org/05yfc2w21","country_code":"PK","type":"education","lineage":["https://openalex.org/I36448004"]}],"countries":["PK"],"is_corresponding":true,"raw_author_name":"Kiran Lohano","raw_affiliation_strings":["Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology","Institute of Science and Technology (SZABIST), Karachi-Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology","institution_ids":["https://openalex.org/I36448004"]},{"raw_affiliation_string":"Institute of Science and Technology (SZABIST), Karachi-Pakistan","institution_ids":["https://openalex.org/I36448004"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5034392412","display_name":"Muhammad Kashif","orcid":"https://orcid.org/0000-0002-4739-9894","observed_orcids":["https://orcid.org/0000-0002-4739-9894","https://orcid.org/0000-0001-6823-950X"]},"institutions":[{"id":"https://openalex.org/I36448004","display_name":"Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology","ror":"https://ror.org/05yfc2w21","country_code":"PK","type":"education","lineage":["https://openalex.org/I36448004"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Muhammad Kashif","raw_affiliation_strings":["Shaheed Zulfiqar Ali Bhutto University of Science and Technology (SZABIST), Karachi, Pakistan","Institute of Science and Technology (SZABIST), Karachi-Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Shaheed Zulfiqar Ali Bhutto University of Science and Technology (SZABIST), Karachi, Pakistan","institution_ids":["https://openalex.org/I36448004"]},{"raw_affiliation_string":"Institute of Science and Technology (SZABIST), Karachi-Pakistan","institution_ids":["https://openalex.org/I36448004"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5024548616"],"corresponding_institution_ids":["https://openalex.org/I36448004"],"apc_list":null,"apc_paid":null,"fwci":2.1081,"has_fulltext":true,"cited_by_count":19,"citation_normalized_percentile":{"value":0.88790058,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"13","issue":"2","first_page":"1","last_page":"19"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/asset-pricing-models","display_name":"asset pricing models","score":0.9959999918937683},{"id":"https://openalex.org/keywords/capital-asset-pricing-model","display_name":"capital asset pricing model","score":0.8870000243186951},{"id":"https://openalex.org/keywords/fama-french-three-factor-model","display_name":"Fama-French three-factor model","score":0.9290000200271606},{"id":"https://openalex.org/keywords/fama-french-five-factor-model","display_name":"Fama-French five-factor model","score":0.9279999732971191},{"id":"https://openalex.org/keywords/pakistan-stock-exchange","display_name":"Pakistan Stock Exchange","score":0.8889999985694885},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.7609999775886536},{"id":"https://openalex.org/keywords/size-effect","display_name":"size effect","score":0.5070000290870667},{"id":"https://openalex.org/keywords/value-effect","display_name":"value effect","score":0.9769999980926514},{"id":"https://openalex.org/keywords/profitability","display_name":"profitability","score":0.7049999833106995},{"id":"https://openalex.org/keywords/investment","display_name":"investment","score":0.718999981880188},{"id":"https://openalex.org/keywords/cross-sectional-analysis","display_name":"cross-sectional analysis","score":0.5460000038146973},{"id":"https://openalex.org/keywords/time-series-analysis","display_name":"time series analysis","score":0.9399999976158142}],"concepts":[{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5916661024093628},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5595422387123108},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5164577960968018},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.5046354532241821},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4100692868232727},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3984142243862152},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3896803557872772},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.25313717126846313},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.09276968240737915},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.54784/1990-6587.1027","doi":"https://doi.org/10.54784/1990-6587.1027","is_oa":true,"landing_page_url":"https://doi.org/10.54784/1990-6587.1027","pdf_url":"https://ir.iba.edu.pk/cgi/viewcontent.cgi?article=1027&context=businessreview","source":{"id":"https://openalex.org/S4210230190","display_name":"Business Review","issn_l":"1990-6587","issn":["1990-6587","2788-9599"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Business Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:aho:journl:v:13:y:2018:i:2:p:1-19","doi":null,"is_oa":false,"landing_page_url":"https://businessreview.iba.edu.pk/articles/Assetpricing.pdf","pdf_url":"https://businessreview.iba.edu.pk/articles/Assetpricing.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:d690ce60ef4a45aa9cec6edf63e9cd73","doi":null,"is_oa":false,"landing_page_url":"https://doi.org/10.54784/1990-6587.1027","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Business Review, Vol 13, Iss 2, Pp 1-19 (2018)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.54784/1990-6587.1027","doi":"https://doi.org/10.54784/1990-6587.1027","is_oa":true,"landing_page_url":"https://doi.org/10.54784/1990-6587.1027","pdf_url":"https://ir.iba.edu.pk/cgi/viewcontent.cgi?article=1027&context=businessreview","source":{"id":"https://openalex.org/S4210230190","display_name":"Business Review","issn_l":"1990-6587","issn":["1990-6587","2788-9599"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Business Review","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3024501741.pdf","grobid_xml":"https://content.openalex.org/works/W3024501741.grobid-xml"},"referenced_works_count":22,"referenced_works":["https://openalex.org/W111647198","https://openalex.org/W1494257512","https://openalex.org/W1575641806","https://openalex.org/W1750647104","https://openalex.org/W1916515740","https://openalex.org/W1984272629","https://openalex.org/W1992563875","https://openalex.org/W1995834279","https://openalex.org/W2010681793","https://openalex.org/W2029056003","https://openalex.org/W2062229217","https://openalex.org/W2101755808","https://openalex.org/W2131773668","https://openalex.org/W2162117752","https://openalex.org/W2600655586","https://openalex.org/W2604797159","https://openalex.org/W2902837217","https://openalex.org/W2992682378","https://openalex.org/W3123391938","https://openalex.org/W3124565880","https://openalex.org/W3143995862","https://openalex.org/W4243838916"],"related_works":["https://openalex.org/W2902837217","https://openalex.org/W2972816666","https://openalex.org/W4251385508","https://openalex.org/W4401495934","https://openalex.org/W2770361882","https://openalex.org/W4360850299","https://openalex.org/W3137427023","https://openalex.org/W7148227392","https://openalex.org/W3095575135","https://openalex.org/W7111999368"],"abstract_inverted_index":{"This":[0],"study":[1],"investigates":[2],"the":[3,14,33,38,45,48,52,56,59,87],"performance":[4],"of":[5,21,58],"CAPM,":[6],"three-factor":[7,39],"and":[8,47,79],"five-factor":[9,49,60],"asset":[10],"pricing":[11],"models":[12],"on":[13,84],"Pakistan":[15,88],"Stock":[16,89],"Exchange":[17],"using":[18],"monthly":[19],"data":[20],"896":[22],"companies":[23],"from":[24,32],"November":[25],"2000":[26],"to":[27,71],"December":[28],"2016.":[29],"The":[30],"results":[31],"time-series":[34],"approach":[35,54],"show":[36],"that":[37,67],"model":[40],"performs":[41],"relatively":[42],"better":[43],"than":[44],"CAPM":[46],"model,":[50],"whereas":[51],"cross-sectional":[53],"establishes":[55],"superiority":[57],"model.":[61],"It":[62],"can":[63],"thus":[64],"be":[65],"concluded":[66],"it":[68],"is":[69],"important":[70],"incorporate":[72],"factors,":[73],"such":[74],"as":[75],"size,":[76],"value,":[77],"profitability":[78],"investment":[80],"when":[81],"predicting":[82],"returns":[83],"securities":[85],"in":[86],"Exchange.":[90]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":6},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2020-05-21T00:00:00"}
