In this study, the reliability of the Fama-French Three-Factor model (FF3F) and the Carhart Four-Factor model (C4F) is examined thoroughly. In order to determine which of the asset pricing models is the best to explain portfolio returns on the Moroccan share market, these two models are indeed...

This paper deals with the problem of asymmetrical information's concerning the moral hazard linked with the behavior of corporate managers (leaders). The stockholders (shareholders) can not control ex ante the corporate managers because the action is unobservable and the stockholders can not...