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please answer fast correctly The Fama and French evidence that high book-to-market firms outperform low book-to-market firms even after adjusting for beta means that ________.     high book-to-market firms have more post-earnings drift     high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a unique risk factor     low book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor     either high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor

please answer fast correctly The Fama and French evidence that high book-to-market firms outperform low book-to-market firms even after adjusting for beta means that ________.     high book-to-market firms have more post-earnings drift     high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a unique risk factor     low book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor     either high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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please answer fast correctly

  1. The Fama and French evidence that high book-to-market firms outperform low book-to-market firms even after adjusting for beta means that ________.
       
    high book-to-market firms have more post-earnings drift
       
    high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a unique risk factor
       
    low book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor
       
    either high book-to-market firms are underpriced or the book-to-market ratio is a proxy for a systematic risk factor
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