How Long to Read CAPM. The Fama French three factor model cross section and time series test

How Long Does it Take to Read CAPM. The Fama French three factor model cross section and time series test?

It takes the average reader and 18 minutes to read CAPM. The Fama French three factor model cross section and time series test by Maximilian Wegener

Assuming a reading speed of 250 words per minute. Learn more

Description

Seminar paper from the year 2013 in the subject Business economics - Investment and Finance, grade: 8.5, Maastricht University, language: English, abstract: The CAPM model was developed by Sharpe (1964) and tries to give insight into the relation of risk and return characteristics of assets, in particular how risk adjusted excess returns of securities are influenced by the market. Fama and French (1996) further developed the CAPM to a three-factor model. Their aim was to enhance the explanatory power of the CAPM, thereby including the size (SMB) and book to market (HML) effect to achieve more explanatory insight of what drives returns. Carhart (1997) even included a fourth factor, namely the momentum anomaly (WML) as found out by Jagadeesh and Titman (1993), to further resolve the CAPM pricing error of not fully predicting returns, and add explanatory power. Additionally, we retrieved the sentiment index from Datastream to test a fifth explanatory factor. This research paper tests these four different models based on historical European data from the Kenneth R. French website and 50 European stocks and one European real estate index from Datastream. The structure of the research is closely tied to the set up used by Wang. The paper continues with a short literature review on the CAPM, the three-factor model, the four-factor model, and the sentiment index. Next, a description of the data and methodology is given. Then first the CAPM is tested, followed by the three-factor model, four-factor model and lastly the sentiment index is included. The results are discussed individually in each section. Finally, we draw an overall conclusion and include some limitations.

How long is CAPM. The Fama French three factor model cross section and time series test?

CAPM. The Fama French three factor model cross section and time series test by Maximilian Wegener is 18 pages long, and a total of 4,644 words.

This makes it 6% the length of the average book. It also has 6% more words than the average book.

How Long Does it Take to Read CAPM. The Fama French three factor model cross section and time series test Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 25 minutes to read CAPM. The Fama French three factor model cross section and time series test aloud.

What Reading Level is CAPM. The Fama French three factor model cross section and time series test?

CAPM. The Fama French three factor model cross section and time series test is suitable for students ages 6 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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