flyinggirl

Thanks for getting back. On page 488 R# 68, they talk about how to extend domestic CAPM to international context - Domestic CAPM extended to international context.

I undertstand that Expanded CAPM (used for Private company valuation) is a different concept than extended Domestic CAPM.

Also, I am sure that domestic CAPM extended to international context is different than ICPAM because the underlying assumptions are different for both.

Please reflect on this issue. Why do we need to extend domestic CAPM to international context when we have ICAPM?