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What is ASPI vs EWI: Colombo Stock Market Analysis about?

This paper investigates whether the All Share Price Index (ASPI) accurately represents the Colombo Stock Market (CSM) by comparing it to the Equally Weighted Index (EWI) over a 13-year period. The analysis reveals that the ASPI has higher mean R² values than the EWI, suggesting it is a better estimator for the Capital Asset Pricing Model (CAPM) in the CSM. The study highlights the unique characteristics of the CSM, including its limited trading frequency and market dominance by a few sectors.

Author

freelancer drag

Language

EN