Fama and French (1992) Found That the Stocks of Firms

Multiple Choice

Fama and French (1992) found that the stocks of firms within the highest decile of book-to-market ratios had an average annual return of _______, while the stocks of firms within the lowest decile of book-to-market ratios had an average annual return of ________.

A) 15.6%; 13.1%
B) 17.2%; 11.1%
C) 13.2%; 16.4%
D) 11.1%; 17.2%