Essec\Faculty\Model\Contribution {#6196
  #_index: "academ_contributions"
  #_id: "1685"
  #_source: array:25 [
    "id" => "1685"
    "slug" => "le-medaf-apres-quarante-ans"
    "yearMonth" => "2004-11"
    "year" => "2004"
    "title" => "Le MEDAF après quarante ans"
    "description" => "AFTALION, F. (2004). Le MEDAF après quarante ans. <i>Bankers, Markets and Investors</i>, pp. 56-60."
    "authors" => array:1 [
      0 => array:3 [
        "name" => "AFTALION Florin"
        "bid" => "B00000002"
        "slug" => "aftalion-florin"
      ]
    ]
    "ouvrage" => ""
    "keywords" => []
    "updatedAt" => "2023-01-27 01:00:17"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => "56-60"
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Quarante ans après sa conception le MEDAF (Modèle d'équilibre des actifs financiers) constitue encore l'un des paradigmes dominant de la finance. Malheureusement les résultats des tests empiriques du modèle sont suffisamment pauvres pour invalider son utilisation des applications. Cet article discute la nature de ces défaillances de même que l'origine des effets value et momentum qui en sont l'expression. Il présente également les problèmes posés par l'hypothèse des anticipations homogènes. Sa conclusion porte sur le MEDAF conditionnel, modèle qui réhabilite peut-être la théorie sans cependant en donner une expression empiriquement utile."
      "en" => "Fourty years after its discovery, the CAPM (Capital Asset Pricing Model) is still one of the dominant paradigms in finance. Unfortunately, its poor empirical tests make its application useless. This article discusses the CAPM's shortcomings and the origin of the "value" and "momentum" effects. It also exposes the problems posed by the homogeneous expectations hypothesis. The conditional CAPM is discussed in the article's conclusion which shows that the model cannot be applied and is empirically useless."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2023-12-05T23:22:13.000Z"
    "docTitle" => "Le MEDAF après quarante ans"
    "docSurtitle" => "Articles"
    "authorNames" => "<a href="/cv/aftalion-florin">AFTALION Florin</a>"
    "docDescription" => "<span class="document-property-authors">AFTALION Florin</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2004</span>"
    "keywordList" => ""
    "docPreview" => "<b>Le MEDAF après quarante ans</b><br><span>2004-11 | Articles </span>"
    "docType" => "research"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 9.304923
  +"parent": null
}