The Hofstede’s Theories Free Essays

As the International manager begins to identify differences among national cultures, he or she must be aware of past research and techniques to utilize while creating a strategy. The Dutch scholar Geert Hostede†s research offers framework for international managers to understand the management implications of broad differences in national cultures. Hofstede breaks down categories such as power distance, uncertainty avoidance, individualism-collectivism, masculinity-femininity, and short-term-long-term orientation. We will write a custom essay sample on The Hofstede’s Theories or any similar topic only for you Order Now Hostede†s framework helps identify some of the managerial implications of cultural differences when dealing with other nations. It helps the international managers strategize accordingly to build a better plan to effectively produce his or her desired outcome when dealing with another culture. Hofstede believed that these theories should not be applied universally because many of the theories are ethnocentric and fail to account all cultural differences. Hofstede also indicated that American scholars, in particular, studied motivational theories but may have damaged data due to cultural differences. International managers must realize that Hofstede†s theories are only a starting point for understanding differences in ethnic cultures. For example, an international manager who is attempting to do business with Ireland should utilize the theories Hofstede supplied, but it is only a broad view that must be supplemented by other understandings gained through direct contact, personal commitment, and genuine openness in dealing with people of a different ethic background. Hofstede†s framework is a useful asset in analyzing and developing business with countries such as Ireland. However, the international manager should also research this culture with personal experiences to indicate whether or not the preliminary research is correct. There are so many variables that the international manager must be aware of during the research process. Any incorrect measures taken or applied haphazardly may cost the international company its reputation and future business. Cultures and individuals are constantly changing. Hofstede†s framework will be a guide for the international manager, but the successful manager will continue to customize his or her company to fit within a different cultures mold. How to cite The Hofstede’s Theories, Essay examples

The Misfortune of Love

â€Å"The Torments of Love† is a fascinating trilogy that explains the nature of love and how vain it can be. It is the story of a young woman Helisenne who was married at the tender age of 11 years, to a much older man. Initially they shared a perfect marriage worth coveting. However, this was only because of Helisenne’s innocence who was both young and naà ¯ve at the time.Advertising We will write a custom term paper sample on The Misfortune of Love specifically for you for only $16.05 $11/page Learn More She is portrayed as a chaste and noble lady who is set to be the model wife, respectful and admired by all. However, with the exposure to new environment she becomes wise in the ways of love. Such exposure leads to an adulterous affair with Guenelic, a younger male of seemingly noble origin. The flight to fantasy land reveals the vanity of love brought about by much suffering such that she ends up regretting existence and wishes that he r creator would not have let her live beyond her childhood. In the book, De Crenne highlights the two types of love: lascivious love; illicit vain and full of suffering; and matrimonial love noble; chaste and worthwhile. This story therefore is an expression of how the power of lascivious loves over matrimonial, how vain it can be and why people should pursue more worth while ventures. Crenne views marriage as a very sacred and holy institution held in deep reverence by those in it (8). Chastity is the rock under which perfect marriages are built on. A married person has to be both chaste in heart as well as in character: the things that a married person does must reflect a chaste spirit from within. As such a married person especially a woman has to avoid all the trappings of the search for pleasure. With regard to pleasure, Crenne says that it can be found in abundance within marriage and as such, a person has no reason to go searching for it outside the marriage (8). Furthermore a married person holds a very important position in the society and as such has to uphold dignity so as to retain that position (9). Married women are subject to public scrutiny by society and are much more liable to blame and condemnation should they commit any form of misdemeanor such as having affairs with other men. Therefore Crenne sees women as the carriers of dignity not only in marriage but also in the society (9). Men on their part have a free ticket and are allowed to have extra marital affairs without any blame; the kings, princes and such other men of noble background, without criticism from the society, publicly express their affection for Helisenne, despite knowing that she is married.Advertising Looking for term paper on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is Helisenne who is watched carefully by the society to see if she will fall for the traps set by such men (10). This is an expression of how women are discriminated in the society. Furthermore a chaste wife upholds not only her dignity but also that of her husband (10). It takes great fortune to have great marriage; for it would not be attributed to anything other than fortune for a person to marry a total stranger. Marrying a total stranger and finding that they are ‘agreeable† is just a matter of fortune (8). Helisenne was married to a stranger soon after she turned 11. She was lucky to have found an adorable husband (8). Such occurrence can thus be attributed to nothing but luck. The irony of such fortune is that it can turn out to be a misfortune. At such an early age one is bound by the innocence and naivetà © of the new found love. The misfortune is compounded by the societal norms and beliefs such as choosing one’s marriage partner, rather than being let to choose whom one loves. This is the beginning of the misfortune of love. Marriage founded on such innocence and naivetà © is full of lo ve and pleasure, inexplicable beyond words. The marriage partners in such a case find it easy to love and reciprocate love (8). Such a marriage lacks nothing and whatever little there lacks a person is motivated to persevere for the sake of love; Helisenne persevered for three years with poor health as a result of her early marriage but went through the suffering gladly in the name of love (8). Furthermore due to the innocence of such a young couple the marriage is full of â€Å"delight and amusement pleasure† (10). Perfect marriage survives on reason and logic. Therefore, a married person should let reason (chastity) prevail over bodily desires (adultery) so as to maintain marriage (10). The partners find a lot of pleasure in each other’s company and support. The couples find it easier to do things together thus; â€Å"together when the desired day came, we went to the said city to increase (our) chances of winning the court case† (9, 10). This is in reference to Helisenne’s great journey to a new city to fight for their land. Such is the honor of a marriage of young and innocent people. It has no blemish (10). However such a marriage lives as long as the couple remains locked up in their own world because sooner or later nature may call upon a person to move from one place to another.Advertising We will write a custom term paper sample on The Misfortune of Love specifically for you for only $16.05 $11/page Learn More Such a change of scene presents one with the opportunity to discover new things, which includes new people. Such discovery exposes the young, naà ¯ve and unnatural love to new challenges. This exposure may lead one to find other people with whom one may fall in love with, naturally. This new love is beyond comprehension and can only be compared to madness (73). When this occurs it is the beginning of an adulterous affair. Such affairs are full of passion and uncontrollable craving for in satiable pleasure. Initially a person may make the best efforts to fight and maintain the chastity but eventually and slowly will succumb to the unimaginable urge to be with the new found love. Furthermore such an adulterous affair starts as an innocent physical attraction that grows with time (10). Such illicit love is held in great secret. It is like a snare and once it captures its victims it makes them totally helpless and only depend on it for survival (16). Such love can be arrested before it grows beyond control by reducing the proximity between the two lovers (10, 73). This means that physical distance and the frequency of contact are what motivate this love to grow stronger and stronger. Moreover, the secrecy in which it is ducted only adds more fuel to the fire. Crenne continues to explain the there are two types of love: lascivious (adulterous affair) love and chaste (matrimonial) love (10). Lascivious love is illicit, full of vain and hope as the married person always ha rbors unending fantasies of being with their secret lover. Such fantasies only lead to physical, psychological and even spiritual turmoil (201). What is more surprising is the fact that the individual who finds illicit affection to a secret lover cannot hide that love for long as the love is too strong that it causes a person to change their general mannerism. The behavior change betrays one’s inner feeling. Married people who find themselves in illicit affairs may want to fight the urge and keep it secret until the day they die, but slowly it starts to consume them such that they drop their guard and start defending such an adulterous affair. The pillars that kept a person chaste soon start to carve in under pressure and as such unreason slowly sets in. This is the genesis of breaking up of a marriage that initially seemed immune to such. As a result of the unreason of lascivious love a person in love can defend the infirmities of those they love to justify the love. Reason no longer prevails. Instead reason takes a new meaning such that it is only what is done in the name of love that seems reasonable. So unreasonable is the new craving for love that even respect for God slowly wanes. Even such places of worship as temples are converted into places of opportunity to practice such infirmities (Disse12).Advertising Looking for term paper on american literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More A person cannot love two people especially if one of them was a person for whom one was forced to love. Surprisingly though, love can be transferred from one person to another thus; â€Å"the love (that Helisenne) felt for her husband now belonged to her secret lover† (13). Such illicitly attained love can only be maintained through illicit means. The person who previously espoused the virtues of honesty and integrity acquires new tastes: to cheat, to lie, to betray and to pretend so as to maintain the new love. This is out of the anxiety created by the knowledge that something that is easily obtained is easily devalued. For there to be any appreciation of love one has to persevere through great odds and suffer great consequences so as to appreciate that priced possession (25). Such is the controlling nature of lascivious love. Such love is also full of doubts worries about its present and future existence (66). Love, whether chaste or illicit, is such a powerful force in lif e that it is the whole essence that motivates people to continue living. It is what adds meaning to an otherwise meaningless life. It is so important that when it is denied to a person, the need to live dies. People can spend their entire lifetimes looking for love, journey to great countries, engage in war and go through the great odds in search of it (77). Helisenne’s husband lived for the love of his wife, going to such great lengths as to threaten to kill her secret lover, as well as lock her up in effort to separate her from illicit lover. After realizing that Helisenne had been locked up Guenelic, her secret lover, out of his love for her sets out to search for her, the result of which is the journeys through out the world in search of there Helisenne had been locked up by her husband. Helisenne the former chaste, noble and faithful wife, upon discovering the attraction of secret love spends her entire life searching for her secret love. Crenne adds that even some of th e most important personalities such as Socrates were also victims of this domineering phenomenon (93, 94). The effort that is put to seek love is so great that one would expect a better life after such great love is found. However the opposite is true. Such love is just vain. It leads to nothing. After all the suffering and torment a person goes through such love does not lead to freedom. People who commit their lives in pursuit of this kind of life and love are exposing themselves to suffering anguish and possibly death; death being the ultimate end of the pursuit of such desires (201-214). Because of the vanity of such love Crenne advices ladies of nobility to look for something much more valuable to do other than search for love that would lead them nowhere thus; â€Å" exhorting all fair ladies to love sparingly well, chastely and avoid all manner of vain and unchaste love† (7). It is better to be chaste, dignified, and to avoid the pursuit of the pleasures of love. Chast e love is fulfilling. However, the search for illicit pleasures of love is the real cause of much suffering and affliction. Such affliction makes one not only loose their status in the society but also their life. This it is more important to commit ones life in pursuit of other noble course other than love. Works Cited De Crenne, Halisenne. The Torments of Love, Minneapolis, MN: University of Minnesota, 1996. Print Disse, Dorothy. Helisenne de Crenne /Marguerite de Briet (d. aft.1552). Other Women  Voices. 2011. Web. This term paper on The Misfortune of Love was written and submitted by user Marisa Tillman to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

senior reflection Essay

senior reflection Essay senior reflection Essay SENIOR REFLECTION The learner profile that I believe well describes me is open-mined. I choose this learner profile because I understand and appreciate my own culture or other and personal history, and I am open to the perspective, value and traditions of other individuals and communities. There are a lot of different people from other countries like me in class, and school. I respect them from what they are, their culture. The learner profile that I believe I have grown the most over the past is communicators. As a student who just move last year from another country to United Stated. There are a lot of different things. For me, the first problem is communicated with people. At the beginning, I was able to talk with my teachers and classmates. The thing is I can understand what people say, but I am not able to reply back. After a lot of practice, and especially practice by communicating with people, and friends, I was getting better and better. I had learned a lot since I came here. I had more experi ence through life and I had more knowledge in school. Here are some evidences. There varied experience over years be a Seahawk, it shaped me into what I am today. I learned a lot of things past couple years. Summer 2011, when I was in Vietnam, I helped my church to take care of the kids. It was called Bible Camp. Different experience that I’ve been through, I showed my responsibility take care of them. I taught them drawing, and make DIY stuff. I used inquires because I enjoyed what I was learning that summer. It helped me feel confidence to talk to the kids, which I usually didn’t. I used thinker because kids are always hyper and they don’t want to listen, so I tried to find a way that make them follow, and happy with it. I was really enjoyed this experience. The kids were cute and amazing. It was a great experience I had ever had so far! Last year, when I was in 11th grade, I had an art project. Art is my favorite subject. The project was about drawing your subject and leaved it blank then decorates the outside subject. I had to organize. I made it clean. I was open-minded to create the project, think of creatively, and different patterns. I used risk takers. I explored new idea that I can make a pattern more when it close and less when it far. I had to be really carefully because the project has to use pen to draw. If I draw wrong, there was no way I could fix it. I used my imagination to picture the project on my mind. This year, 2012-2013, I had to take Chemistry class. Chemistry is the class that

Facts About Shakespeare - A Shakespeare Crib Sheet

Facts About Shakespeare - A Shakespeare Crib Sheet Facts about Shakespeare can sometimes be hard to find! To help you sort the fact from the speculation, we’ve put together a Shakespeare â€Å"crib sheet† †¦ a single reference page packed with facts – and only facts – about Shakespeare. The links are there to help you delve deeper into the subject. Key Facts About Shakespeare William Shakespeare was born on 23rd April, 1564He died on 23rd April 1616The dates above are approximate because there is no record of neither his birth nor death. We only have records of his baptism and burial.If we accept the dates, Shakespeare was born and died on the same day – in fact Shakespeare’s death occurred on his 52nd birthday! Facts About Shakespeare’s Life Shakespeare was born and raised in Stratford-upon-Avon, but later moved to London for workShakespeare had three children with his wife, Anne HathawayWhen he left for London, Shakespeare left his family behind in Stratford. He did, however, retire back to Stratford at the end of his careerThere is evidence that Shakespeare was a â€Å"secret† CatholicBy the end of his life, Shakespeare was a wealthy gentleman and had a coat of arms. His final residence was New Place, the largest house in Stratford-upon-AvonShakespeare was buried inside Holy Trinity Church in StratfordShakespeare’s grave has a curse engraved upon itShakespeare’s birthday is celebrated worldwide every year. The main festival is in Stratford-upon-Avon on Saint George’s Day Facts About Shakespeare’s Time Shakespeare was not a â€Å"one-off genius†, as many people would have you believe. Rather he was a product of his timeShakespeare grew up during the renaissanceQueen Elizabeth I ruled for much of Shakespeare’s life and she would sometimes come and watch his plays Facts About Shakespeare’s Plays Shakespeare wrote 38 playsShakespeare’s plays are split into three genres: tragedy, comedy and historyHamlet is often regarded as the Bard’s best playRomeo and Juliet is often regarded as the Bard’s most famous playShakespeare may have co-authored many of his plays Facts About Shakespeare’s Sonnets Shakespeare wrote 157 sonnetsThe sonnets are split into sections. The first follows the Fair Youth and the second follows the so-called Dark LadyIt likely that the sonnets were never intended for publicationSonnet 18 is often regarded as Shakespeare’s most famous sonnetShakespeare’s sonnets are written in a strict poetic meter called Iambic Pentameter and have 14 lines each. Facts About Shakespeare’s Theatre The theatre experience in Shakespeare’s time was very different to today – crowds would eat and talk through the production and plays would be performed in the open airThe Globe Theatre was made from the materials of a stolen theatre that Shakespeare’s theatre company dismantled at midnight and floated across the Thames RiverShakespeare described the Globe Theatre as the â€Å"Wooden O† because of its shapeThe original Globe Theatre was demolished to make way for tenements in 1644 when it fell out of useThe building that currently stands in London is a replica built from traditional materials and techniques. It is not on the original site, but very close to it!Today, the Royal Shakespeare Company (RSC) is the World’s leading producer of Shakespeare and is headquartered in the Bard’s hometown of Stratford-upon-Avon

The essay talk about the church York Minster, in York, that was build

The talk about the church York Minster, in York, that was build in late middle ages - Essay Example The church’s arch rise heavenward, and the walls, entrances, columns and doors are carved with biblical figures and scenes. Hundreds of smaller churches were constructed using this style, and this popularized the Gothic style of architecture (Scholastic.com). Gothic style was heavily borrowed from an earlier style known as Romanesque. Romanesque architecture had preserved the architectural style of Roman times. The Roman style was slowly changed to meet the needs of the Christian religion, hence, giving rise to the Romanesque architecture. The word Gothic was taken from the Goths, the people who invaded the Roman Empire. The locals perceived the exterior with the entire buttress as unpleasant to look at and claimed that it portrayed the Goths. The Gothic style has three architectural features; the pointed arch, ribbed vault and the flying buttress. The pointed arch is the feature that separates Gothic buildings from the Roman style and Romanesque architecture. In the older Gothic styles, the arch was a rounded figure. The Goth architects did not invent the pointed arch; they borrowed this feature from the Muslim architects of Asia, Southern Europe, and Africa (Scholastic.com). The pointed arch was used after Jerusalem was captured from the Muslims in the first crusade period of 1099. Many crusaders saw the Muslim works of art, and they imitated this style. The European architects used the arch in a different way than the Muslims. The pointed arches presented greater flexibility in interior design. The arches could extend upwards to greater heights allowing a larger distance between the piers and the columns beneath. At the top of the piers, there existed arches that crossed the ceiling and were locked together by a boss stone. These ceilings were known as vaulted or ribbed vaulting. The main plan of the church was separated into bays; each corner had a pillar and from one corner to the other, round arches were built. These round arches

Media Portrayal Essay Example | Topics and Well Written Essays - 1750 words

Media Portrayal - Essay Example This essay discusse the connections between modern information, communication and the individuals with disabilities issue. Today, people can get information from various sources, that is mostly may be accessed with the help of mass media. Mass media is a term used to denote, as a class, that section of the media specifically conceived and designed to reach a very large audience. It was coined in the 1920s with the advent of nationwide radio networks and of mass-circulation newspapers and magazines. Unfortunately individuals with disabilities to a great extend are limited by not being able to make use of such opportunities. Access to communications and information can be available through many sources such as: newspapers, magazines, television programs, and movies, Internet etc. Depending on the type of disability i.e. deafness, blindness, and so on the individuals with disabilities are limited having no access to appropriate source of the information. This essay raises the question o f vital importance for the international community today, that is to create and promote approaches and technologies that will allow everyone including individuals with disabilities to get, to utilize, to exchange and to create information and knowledge. The researcher focuses on introducing the topic and analyzes in details many examples of mass-media articles, movies and tv-shows related to the individuals with disabilities issue. Some examples that were mentioned in the essay: Touch the Sound, Zatoichi, Be with me movies, etc.

The Basic Theory Of The Arbitrage Pricing Theory Finance Essay

The Basic Theory Of The Arbitrage Pricing Theory Finance Essay The Arbitrage Pricing Theory is an asset pricing theory that is derived from a factor model, using diversification and arbitrage arguments. The theory describes the relationship between expected returns on securities, given that there are no opportunities to create wealth through risk-free arbitrage investments. APT is one of the most influential theories in the stock pricing which is initiated by the economist Stephen Ross in 1976. It predicts there is a linear relationship between expected return and risk which can be linked by SML. APT suggests that the assets return to investors could be influenced by many independent macro-economic variables. It does not require the existence of true market portfolio and demand less restrictive assumptions compare the other asset pricing model such as the CAPM. Arbitrage arises if an investor can construct a zero investment portfolio with a sure profit. APT relies on three propositions: (i) the security returns can be described by a factor model (ii) idiosyncratic risk can be diversified away (iii) arbitrage opportunities are eventually diversified away. Since no investment is required, investors can create large position to secure large level of profit. However, profitable arbitrage opportunities disappear in efficient markets. The APT formula is as following: E(Ri) = Rf + b1*(E(R1) Rf) + b2*(E(R2) Rf) + K+ bn*(E(Rn) Rf) Rf = Risk free interest rate bi = Sensitivity of the asset to factor i E(Ri) Rf) = Risk premium associated with factor i where i = 1, 2,n Multi-factor model and many relevant researches to basic financial factor has developed since Ross (1976) raised the arbitrage pricing theory, such as the three factor model of Fama and French (1993). Fama and French (1993) continues the research method of Fama and Macbeth (1993)Aand conclude that the APT has explain better the return of the stock than the CAPM . Fama and French (1996) argue that the CAPM does not explain the patterns such as size, book-to-market equity, earnings/price etc. in average return on common stock. And these anomalies are captured by the three factor model of Fama and French (1993). The three factor model is as following which indicates that the three factors, (Rm ? Rf), SMB and HML are used to explain the returns of stocks : SMB = Small Minus Big; returns on small stocks in excess of returns on large stocks HML = High Minus Low; returns of stocks with high BTM ratio in excess of returns on low book-to-market ratio According to the equation above, Fama and French (1993) states that the pattern in the HML slopes does not predict the continuation but the reversal for future returns. Therefore, the continuation of short-term returns documented by Jegadeesh and Titman (1993) is left unexplained by the three Vfactor model (Fama and French). The three-factor model in the above equation captures much of the cross-sectional variation in average stock with the reversal of long term returns documented by DeBondt and Thaler. The results of the empirical tests were taken by Fama French]1996^are consistent with APT asset pricing. Fama and French argue that it is an equilibrium pricing model, a three-factor version of APT (Ross 1976) due to the empirical successes. Fama and French (1996) conclude that the three-factor model is a good model although it does not explain the expected return on all securities and portfolios. But it captures the anomalies on the portfolios formed on size and book Vto market equity, earnings/price etc. On the other hand, Roll and Ross (1995) conclude that The APT approach to the portfolio strategy decision involves choosing the desirable degree exposure to the fundamental economic risks that influence both asset returns and organizations. Roll and Ross (1995) states that APT can be adapted to special situation comparing to many traditional approaches because of its flexibility and it will be well-suited to the management of huge amount of funds. Later on, Chen, Roll and Ross (1986) examined the validity of the APT in the US stock markets. The test is based on the APT and suggests the multi-factor model .Chen, Roll and Ross (1986) found that the set of macroeconomic variables including: industrial production, changes in the risk premium, twists in the yield curve etc. are found to be significant in explaining the expected stock returns. The result of their research is consistent with the APT (Ross 1976) which implies that APT is valid. They believe that the multi-factor of APT captu res more risk factors and explains better of the asset returns, therefore, it is more useful than the CAPM. In conclusion, Arbitrage pricing theory (APT) is a valuation model as it does not required the existence of true market portfolio and fewer assumption is used which is more rational comparing to the CAPM. APT relates the individual asset price to the variety of unanticipated events driving it rather than rely on the measuring of the market performance. Beenstock and Chan (1986) found that the multi-factor APT has a better explanation than the single factor CAPM in the UK stock market through the Non-Nested Test. Also, Fama and French (1996), Chen, Roll and Ross (1986) have consistent results with the APT and therefore support APT over CAPM. However, there still many ambiguities hide in the model. Shanken (1982) challenge to testability of the APT as theory has been silent about which economic state variables are likely to influence all assets and there is a complete ignorance to the identity of the relevant factors that explains different returns. Also, the economic variables are not yet determined that which are responsible to the asset prices. Reinganum (1981) found that his results are inconsistent with the APT and according to the Roll and Rosss study, they conclude that although the evidence generally support the APT, acknowledged that their empirical tests were inconclusive. Therefore, due to the complexity of and dubiosities of the APT, companies choose to apply the CAPM instead. In view of this, more researches and improvements should be made to the APT in order to increase the usefulness of it. BibliographyG Beenstock, M. and Chan, K. 1986, Testing the Arbitrage Pricing Theory in the United Kingdom, Oxford Bulletin of Economics and Statistics, Vol. 48, No 2, pp.121-141. Eugene F. Fama and Macbeth, J, 1973, Risk Return and Equilibrium: Some Empirical Tests, The Journal of Political Economy, Vol.8, pp.607- 636 Eugene F. Fama and Kenneth R. French, 1992, The cross-section of expected stock returns, The Journal of Finance Vol.47, pp.427-465 Eugene F. Fama, and Kenneth R. French, 1993, Common Risk Factors in the Returns on Stocks and Bonds, The Journal of Financial Economics, Vol.33, pp.3-56 Eugene F. Fama, and Kenneth R. French, 1996, Multifactor Explanations of Asset Pricing Anomalies, The Journal of Finance, Vol. 51, (Mar.,1996), pp.55-84 Nai-Fu Chen; Richard Roll; Stephen A. Ross, 1986, Economic Forces and the Stock Market, The Journal of Business, Vol. 59, No 3 (Jul., 1986), pp.383-403. Reinganum, Marc, 1981, The Arbitrage Pricing Theory: Some Empirical Results, The Journal of Finance, Vol.36, No.2, (May,1981), pp.313-321. Richard Roll and Stephen A. Ross, 1995, The Arbitrage Pricing Theory Approach to Strategic Portfolio Planning, The Financial Analysts Journal, January-February 1995. Shanken, Jay, 1982, The Arbitrage Pricing Theory: Is It Testable, The Journal of Finance, Vol.37, pp.1129V1140. Stephen A. Ross, 1976, The arbitrage theory of capital asset pricing, The Journal of Economic Theory, Vol.13, pp341-360. Zvi Bodie, Alex Kane, Alan J.Marcus, 2009, Chapter 10, Arbitriage pricing theory and multifactor models of risk and return, Investment