The study looked at how the Capital Asset Pricing Model (CAPM) predicts returns for agricultural companies at the Nairobi Securities Exchange. They used data from 2011 to 2015 and found that CAPM can fairly capture the pattern of actual returns in the market. Higher risk (betas) led to higher returns, supporting the CAPM model. This means that shareholders, managers, and analysts can use CAPM to manage investment risks effectively.