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Perfect Capital Market

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Perfect capital market
A market in which there are never any arbitrage opportunities.
Perfect Capital Market
Any market in which assets are priced with total efficiency. In a perfect capital market, there are no possibilities for arbitrage. See also: Efficient markets hypothesis, Perfect competition.
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These findings are broadly inconsistent with the perfect capital markets model, but fit well with an agency model where managers have career concerns.
Corporate Finance by NBER Reporter
Ezzel, 1980, "The Weighted Average Cost of Capital, Perfect Capital Markets and Project Life: A Clarification" Journal of Financial and Quantitative Analysis, 15/3, pp.
A general formula for the WACC: a reply by Farber, Andre; Gillet, Roland; Szafarz, Ariane / International Journal of Business
Like CAPM, the perfect capital market assumptions result in the Irrelevance Propositions appearing tautological.
MOME in hindsight: how has "The Mechanisms of Market Efficiency" ... by Gilson, Ronald J.; Kraakman, Reinier / Regulation
 
 
 
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