Footnote:
In: World Applied Sciences Journal 25 (12): 1676-1683, 2013
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 15, 2013 erstellt
Description:
This study aims at examining and comparing the Fama-French three factor model with the Fama-French four factor model based on using the asset growth factor which has been added to the Fama-French model of 1993 and proposed by Cooper et al. and Yao et a.l. The research population includes all the companies listed at Tehran Stock Exchange (TSE) between the years, 2000 up to 2009. The companies are supposed to be of the specifications determined by the research population. The findings of the research indicate that although the three factor model is applicable to Tehran Stock Exchange, the four factor model is of relative superiority. It also has a roughly greater strength in explicating the dispersion of the stock returns