Pfizer Inc

question 39

Essay

Pfizer Inc.is the world's largest research-based pharmaceutical company.Monthly data for Pfizer's risk-adjusted return and the risk-adjusted market return are collected for a five-year period (n = 60).The accompanying table shows the regression results when estimating the CAPM model for Pfizer's return. a.At the 5% significance level,is the beta coefficient less than one? Show the relevant steps of the appropriate hypothesis test.
b.At the 5% significance level,are there abnormal returns? Show the relevant steps of the appropriate hypothesis test.

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Definitions:

Participation

The action of taking part or being involved in an activity or event.

Empowerment

The practice of giving employees the authority, tools, and responsibility to make decisions and contribute to the company's success.

Controllability

The principle that managers should be held accountable only for those aspects of performance that they can influence or control.

Real-Time Reporting

The process of providing immediate updates and financial information as events occur, allowing for timely decision-making and analysis.