Currently, market analysts use the “Asset Pricing Model Capital” as the main instrument. However, given the distinctive characteristics of emerging markets, the analysis through this model can be inadequate and, therefore, be a factor that disrupts the proper functioning of the market: given that investor expectations are formed by observing the market with this model, equity prices t Culture during the Harlem renaissance he market cannot be the right reflection and performance risk they entail. This research aims to determine the validity, from the statistical point of view, the model assumptions concerning the standardization of the bezel surrounding the decision, oil market efficiency and assessments made by investors about different combinations of expected return and risk of their investments. To fulfil this objective the following hypothesis is formulated: The model assumptions are not supported by the oil market in GCC, that is, the market is not informatively efficient and therefore the model is not linear, there are other factors affecting the income from shares, there is a positive relationship between risk and return. Chapter Two: Literature Review 2.1 Model of Capital Asset Pricing (CAPM) In the world of business it is very important to make good investment decisions. But often excellent ideas into projects and business plans which in practice are marred by a bad calculation of the net present value, mainly due to inadequate application of formulas in estimating the discount rate or cost of capital is observed that They leave out some basics. One of the most important tasks of the assessment and managem Culture during the Harlem renaissance ent of business investment is to estimate the opportunity cost of capital. In modern theory, decision making in uncertainty introduces a conceptual framework for estimating the risk and return of an asset that is part of a portfolio or briefcase and under conditions of market equilibrium. This framework is called the pricing model of capital assets or CAPM (Capital Asset Pricing Model). In this model the risk of an investment is divided into systematic risk or market risk (non-diversifiable) risk and unsystematic (diversifiable) or specific risk of Culture during the Harlem renaissance  a company.>