A Major Finding by Heaton and Lucas (2000)is That

question 53

Multiple Choice

A major finding by Heaton and Lucas (2000) is that:

• A)the market rate of return does not help explain the rate of return of individual securities and CAPM must be rejected.
• B)the market rate of return does explain the rate of return of individual securities.
• C)the change in proprietary wealth helps explain the rate of return of individual securities.
• D)A and C.
• E)none of the above