Yao, Wenjing; Mei, Bin - In: Forest Policy and Economics 50 (2015) C, pp. 192-199
The intertemporal capital asset pricing model is used to assess the risk–return relationship between forestry-related assets and innovations in state variables using quarterly returns from 1988Q1 to 2011Q4. Market excess returns and innovations in the small-minus-big and high-minus-low...