Testing the Capital Asset Pricing Model And the Fama-French Three-Factor Model By Jiaxin Ling (Cindy) March 19‚ 2013 Key words: Asset Pricing‚ Statistical Methods‚ CAPM‚ Fama-French Three-Factor Model Abstract: This paper examines the Capital Asset Pricing Model(CAPM) and the Fama-French three-factor model(FF) and the Fama-MacBeth model(FM) for the 201211 CRSP database using monthly returns from 25 portfolios for 2 periods ---July 1931 to June 2012 and July 1631 to June 2012. The theory’s
Premium Statistics
Reading Summary of Common risk factors in stock and bond returns Xin Shi (A13119523) The paper introduces the famous Fama–French three-factor model which is a development of the traditional CAPM model and the findings of the 1992 paper. It believes the theory should be able to explain not only stock but also bond returns. Also this paper uses the method of time-series regression‚ which is quite different from the previous paper. After the development
Premium
Microevolution is basically as evolution within a species. This happens with minute changes that do not create new species. Almost like a better improved species. Unlike microevolution‚ macroevolution creates hole new species all together. Experiments can only really test microevolution because of the time limit. If macroevolution is almost impossible observed because of the time it takes. New genes are not required for macroevolution as long as such evolution is limited to closely related species
Premium Evolution Species Evolutionary biology
English 1010 L-25 Does Legalizing Marijuana Really Make Sense? Should marijuana be sold freely and made available to everyone? To me it makes somewhat sense. There are several beneficial effects as well as there are some very not as much. The debate over the legalization is very heated here in the United States. Marijuana is legal in some states for medical purposes only and others have not quite been convinced of the cannabis. Our newly re-elected president‚ Barack Obama‚ says he is
Premium United States Barack Obama Cannabis
Did slavery make sense economically? Slavery has always been a controversial issue within the United States. Whether one considers its involvement with the Civil War or its obvious racial subjugation‚ slavery is thought to have been one of the most debilitating elements of American history. Slave labor‚ which profoundly embedded itself within both Southern and Northern societies‚ provided a method of economy for those who relied heavily on agriculture‚ while others were more concerned with industrialization
Premium Slavery in the United States Slavery American Civil War
English 1301 March 2‚ 2013 Professor Palmer Year Round School Makes Sense “Schools out!” The majority of schools in America stick to the traditional school year‚ attending class from early fall through the beginning of summer. End of the school year means the start of summer vacation for most students; over the years‚ summertime evolved into its own culture with specialized camps‚ family vacations‚ and little league games. While most would agree that children and even families love summer vacation
Premium High school School Education
Compare and Contrast Eugene Fama and Robert Shiller The Nobel Prize is a set of annual international awards presented in recognition of cultural and scientific advances‚ in the categories of Physics‚ Chemistry‚ Literature‚ Peach‚ Physiology or Medicine and Economic Sciences (Nobel Media AB‚ 2013). In 2013‚ Robert Shiller‚ Eugene Fama and Lars Peter Hansen were awarded the Nobel Prize for their outstanding contributions in Economics research and their work on explaining asset prices and how financial
Premium Nobel Prize Stock market Economics
The senses transmit sensory information’s‚ in the form of electrochemical impulses‚ to the brain. Different forms of energy stimulate the sensory receptors – the nerve endings and cells that detect sensory information. The sensory receptors then initiate neural impulses. Sensation occurs when the neural impulses arrive at the cerebral cortex. Neural impulses that begin in the optic nerve are sent to the visual areas of the cerebral cortex‚ and we see objects. Each person’s unique perception results
Premium Brain Sensory system Sense
DO JUDGES MAKE LAW? There are two main sources of English Law- legislation and cases. When interpreting legislation judges must ascertain the intention of Parliament and‚ except insofar as they apply the mischief rule of interpretation‚ they do not make law. Traditionally and due to the doctrine of the separation of powers judicial role is really not properly legislative at all‚ but consist merely in stating what the existing law actually is‚ and interpreting authoritatively doubtful points as
Free Common law Law Case law
Do clothes make the man? We have always been told that its what`s inside that counts‚ and "the clothes don’t make the man "‚ I totally agree with this statement. In today`s world media influence people a lot about their body image‚ men constantly feel to have a muscular body‚ and wear new brand clothes. Moreover they encounter muscular and well dressed and modish men as example of their ideal body image. Even women see skinny models with fashionable clothes‚
Premium Human Humans Body image