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
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pharmaceutical companies to develop medical products that can help prevent or treat HCC and BA patients. Thus‚ hundreds of BA birth defects can be prevented and the quality of life in patients will greatly improve. Hypothesis We hypothesize that in Wistar rat model‚ injection of Aflatoxin B1 contributes to a heightened risk of hepatocellular carcinoma by
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THE FIVE –FACTOR MODEL James Baron and David Kreps had given the Five-Factor model‚ which is based on Michael Porter’s Five Forces model of business analysis (Porter‚ 1980). These factors will influence the Competitive Intelligence system in any organization. These factors are External Environment‚ Workforce‚ Organizational Culture and Structure‚ Organizational Strategy‚ and Technology of Production and Organization of Work (Baron & Kreps‚ 1999). Lack of correspondence between any one of these factors
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The factors influencing consumer behavior This article is the third in a series of articles about the factors and variables that influence the behavior of consumers. How reacts a consumer? What are the motivations and aspirations that guide him? What are the factors that influence him? Why he will choose a product or brand over another? Today‚ let’s focus on the factors influencing consumer behavior: what are they? How do they work? What is their level of importance to the consumer and how he
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A Brief Note on Open Economy ISLM Model (Three-Paned Model) Utility for Business Managers: Firms resort to macroeconomic analysis to make rational judgments about the effects of global events or policy shocks on the economy and thereby on the business environment. But such analysis is often laden with possibilities for logical missteps. The Three- Pane model (open economy IS/LM model) is discussed here as a tool for explaining key relationships in the economy while avoiding the missteps encountered
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The Three-circle Model of World Englishes was developed by Kachru in 1985 and it remains one of the most influential models for grouping the varieties of English in the world (Mollin‚ 2006‚ p.41). Kachru (1985) described the spread of English in terms of three concentric circles: the Inner Circle‚ the Outer Circle and the Expanding Circle. These circles represent "the type of spread‚ the patterns of acquisition and the functional domains in which English is used across cultures and languages" (Kachru
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Three Union Models The unions models are workers compete with one another in selling their labor services. When a union is formed in an otherwise competitive labor market‚ it usually bargains with a relatively large number of employers. They bargain the wages and benefits for labors with the people in the management. The three union models is Demand enhancement‚ Exclusive or Craft Union and Industrial union model. Demand enhancement model is a part of the Union where if an union wants‚ they can
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trying to explain is that the underlying problem is social factors. Social factors include‚ race‚ gender‚ ethnicity and etc. They are things that one cannot control. The fundamental cause is a way for people to get the help they need in order to avoid getting sick or being in debt. As a whole the authors try to implicate the idea that fundamental causes are necessary because it’s what connects us to what we need but‚ because we have social factors that can either be a negative or positive thing for one
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FACTORS AFFECTING CONSUMER BEHAVIOUR ON PRODUCTS CHOICES:A SURVEY OF SUPERMARKETS IN ELDORET TOWN ABSTRACT This study will look on the ability of the local supermarket to take in to account the consumer buying behavior and characteristic as a baseline for defining marketing programs. To better understand why consumers buy as they do‚ many marketers turn to the behavioral sciences for help. Similarly‚ there are numerous theories‚ models and concepts making up the the field. These variables
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Social factors have a greater influence on how people experience ill-health and disability than biological ones. Discuss The author of this assignment will look at societal factors and see if they have an impact on how people experience ill-health and disability aswell as looking at the biological factors. Academics often argue that societal factors have a much greater impact on things such as; the area you live in and how long life expectancy in that area is. Sociologist often see disability and
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