Special Issue "Frontiers of Asset Pricing"

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Economics and Finance".

Deadline for manuscript submissions: 30 November 2021.

Special Issue Editors

Prof. Dr. James W. Kolari
E-Mail Website
Guest Editor
Department of Finance, Mays Business School, Texas A&M University, College Station, TX 77843-4218, USA
Interests: asset pricing; banking; event study methods, interest rates, inflation rates, exchange rates
Prof. Dr. Seppo Pynnonen
E-Mail Website
Guest Editor
Department of Mathematics and Statistics, University of Vaasa, P.O. Box 700, FI-65101 Vaasa, Finland
Interests: statistics; econometrics; mathematics; event study tests; financial markets

Special Issue Information

Dear Colleagues,

The famed Capital Asset Pricing Model (CAPM) of Sharpe, Lintner, Mossin, and Black in the 1960s proposed an equilibrium theory wherein the expected return of an asset is a function of the beta risk associated with the expected return of the market portfolio. The CAPM was a groundbreaking model derived from Markowitz portfolio theory and Tobin equilibrium pricing advances.

Unfortunately, in the 1990s, Fama and French published a series of widely cited papers that documented little to no relation between the beta risk and average U.S. stock returns. Concluding that the CAPM was redundant, they proposed a number of empirically based models incorporating long/short portfolio returns as multifactors, which supplanted the CAPM. Subsequently, researchers have proposed similar models with different multifactors. However, Cochrane proposed the factor zoo. Nowadays, intense competition exists in terms of alternative multifactors and models.

This Special Issue will publish papers in various areas related to asset pricing. Possible topics for the proposed Special Issue on the frontiers of asset pricing include the following: (1) multifactors, (2) models, (3) theories, (4) empirical tests, (5) applications, (6) other asset classes, and (7) international tests.

Prof. Dr. James W. Kolari
Prof. Dr. Seppo Pynnonen
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1200 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.


  • asset pricing models
  • asset pricing theory
  • asset pricing risk
  • empirical asset pricing tests
  • applications of asset pricing models
  • asset pricing of other asset classes
  • international asset pricing
  • asset pricing literature

Published Papers

This special issue is now open for submission.
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