Paper Links

GCAPM (I): A Microeconomic Theory of Investments
(with complete mathematical proofs)
Author: Stephen Fan
Most recent revision date: March 26, 2003 

General Capital Asset Pricing Model (GCAPM) - A Microeconomic Theory of Investments
(more descriptive version)
Author: Stephen Fan
Most recent revision date: January 15, 1999

A Theoretical Evidence of CAPM Misinterpretation
Author: Stephen Fan
Most recent revision date: August 12, 2001.