Briefly discuss one study that does not support the apt


Consider the following questions related to empirical tests of the APT:

a. Briefly discuss one study that does not support the APT. Briefly discuss a study that does support the APT. Which position seems more plausible?

b. Briefly discuss why Shanken contends that the APT is not testable. What is the contrary view to Shanken's position?

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Risk Management: Briefly discuss one study that does not support the apt
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