4.Use the excel International 3 Factors.xls, discuss the performance of SMB and HML factors in global market. European Japan Asia Pacific China Performance of SMB factor in global market a B (MktRF) t(a) t (B) 0.0279153 -0.0731914 0.24 -3.07 0.0479783 0.0764826 0.28 2.54 -0.2812283 -0.0088373 -1.75 -0.32 0.9731428 0.1667623 3.60 6.98 R2 0.0268 0.0185 0.0003 0.1399 European Japan Asia Pacific China Performance of HML factor in global market Ol. B (MktRF) t(a) t(B) 0.2670507 0.0881566 2.11 3.40 0.3101853 -0.0950247 2.01 -3.52 0.5784401 0.0608159 3.64 2.23 0.4856979 -0.0635593 1.61 -2.39 R? 0.0326 0.0349 0.0144 0.0187 4.Use the excel International 3 Factors.xls, discuss the performance of SMB and HML factors in global market. European Japan Asia Pacific China Performance of SMB factor in global market a B (MktRF) t(a) t (B) 0.0279153 -0.0731914 0.24 -3.07 0.0479783 0.0764826 0.28 2.54 -0.2812283 -0.0088373 -1.75 -0.32 0.9731428 0.1667623 3.60 6.98 R2 0.0268 0.0185 0.0003 0.1399 European Japan Asia Pacific China Performance of HML factor in global market Ol. B (MktRF) t(a) t(B) 0.2670507 0.0881566 2.11 3.40 0.3101853 -0.0950247 2.01 -3.52 0.5784401 0.0608159 3.64 2.23 0.4856979 -0.0635593 1.61 -2.39 R? 0.0326 0.0349 0.0144 0.0187