14. Market efficiency evidence (S12.4) Fama and French show that average stock returns on firms with small
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14. Market efficiency evidence (S12.4) Fama and French show that average stock returns on firms with small market capitalizations have been significantly higher than average returns for “large-cap” firms. What are the possible explanations for this result? Does the result disprove market efficiency? Explain briefly.
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Related Book For 
Principles Of Corporate Finance
ISBN: 9781264080946
14th Edition
Authors: Richard Brealey, Stewart Myers, Franklin Allen, Alex Edmans
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