Fama and French rationalise their SMB and HML factors as reflecting the extra riskiness of small stocks
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Fama and French rationalise their SMB and HML factors as reflecting the extra riskiness of small stocks and low price-to-book value stocks respectively, is this explanation convincing?
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Equity Asset Valuation
ISBN: 978-0470571439
2nd Edition
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
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