There have been numerous studies that have attempted to explain the cross-sectional
variation in average returns in developed and emerging markets. However, there is a dearth …

This paper aims to identify how the inclusion of financial sector affects the ability of asset
pricing models to explain the average stock returns in the CSE. M ost of the asset pricing …

This study intends to identify the better model in explaining variations of average stock
returns of listed companies in the Colombo Stock Exchange (CSE) when time series and …

Traditionally, the success of asset pricing models is assessed in the absence of idiosyncratic
volatility, as it is believed that the role of idiosyncratic volatility is irrelevant. Nevertheless, the …