Multiple Choice
The Fama and French evidence that high book to market firms outperform low book to market firms even after adjusting for beta means _________.
A) high book to market firms are underpriced
B) low book to market firms are underpriced
C) either high book to market firms are underpriced or the book to market ratio is a proxy for a systematic risk factor
D) high book to market firms have more post earnings drift
Correct Answer:
Verified
Correct Answer:
Verified
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