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Discuss the results of the studies of John Lintner (1965) and Merton Miller and Myron Scholes (1972) in terms of the validity of the capital asset pricing model (CAPM).
Subsidiary
A company that is completely or partly owned and partly or entirely controlled by another company, known as the parent company.
Assets
Resources controlled by a business from which future economic benefits are expected to flow to the business.
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