Misund, Bard; Mohn, Klaus - Handelshøgskolen, Universitetet i Stavanger - 2014
Previous research clearly suggests that the explanation of excess asset returns is not fully captured by excess return on the market portfolio and the CAPM beta, as implied by Fama-French (1993) three-factor model. Among the large number of studies following in the footsteps of Fama and French,...