Aziz, Tariq; Ansari, Valeed Ahmad - Volkswirtschaftliche Fakultät, … - 2014
The poor empirical record of the CAPM paved the way towards the development of multi-factor asset pricing models. The three-factor model of Fama and French (1993) is regarded as a ground-breaking multi-factor asset pricing model. This paper examines the performance of the three-factor model of...