922  25

17   APT (  . 12)    
,     ,   -
-.       
,    6,     -
 -      -
.

18          Barren's.  ,  -
  .  : John Markese, The Complexities of Bond Market Indicators, AAII
Journal, 14, no. 9 (October 1992), pp. 34-36.

"    . 22,    Morn ings far, Inc.   -
   .      : Christopher R.
Blake, Edwin J. Eiton and Martin J. Gruber, The Performance of Bond Mutual Funds, Journal of
Business, 66, no. 3 (July 1993), pp. 371403.      -
,          -
 .

20 .: Wayne H. Wagner and Dennis A. Tito, Definitive New Measures of Bond Performance and
Risk, Pension World, 13, no. 5 (May 1977), pp. 10-12; and Is Your Bond Manager Skillful?, Pension
World, 13, no. 6 (June 1977), pp. 913.     -
   : Peter . Dietz and Jeannette R. Kirschman, Evaluating Portfolio
Performance, Chapter 14 in Managing Investment Portfolios: A Dynamic Process, eds. John L. Maginn
and Donald L. Tuttle (Boston, MA: Warren, Gorham & Lamont, 1990).

21             -
 SML        .
21    . . 11  : William F. Sharpe, Factors in New York Stock Exchange

Security Returns. 19311979, Journal of Portfolio Management, 8, no. 4 (Slimmer 1982), pp. 518.

 

   ,            	              

 

1.       
 :

Richard Roll, Performance Evaluation and Benchmark Errors (I), Journal of Portfolio

Management, 6, no. 4 (Summer 1980), pp. 512.

Richard Roll, Performance Evaluation and Benchmark Errors (II), Journal of Portfolio

Management, 7, no. 2 (Winter 1981), pp. 17-22.

Gary P. Brinson, Jeffrey J. Diermeier, and Gary G. Schlarbaum, A Composite Portfolio

Benchmark for Pension Plans, Financial Analysts Journal, 42, no. 2 (March/April 1986),

pp. 15-24.

Mark P. Kritzman, How to Build a Normal Portfolio in Three Easy Steps, Journal of

Portfolio Management, 13, no. 4 (Summer 1987), pp. 2123.