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Suppose you are analyzing a firm-year panel sample. You are considering using a Fama-Macbeth (FM) regression approach. Which of the following is correct (if any)?

Suppose you are analyzing a firm-year panel sample. You are considering using a Fama-Macbeth (FM) regression approach. Which of the following is correct (if any)? ed out of on O a. The FM regression involves running a series of time series regressions O b. The FM regession "controls for" unobserved time effects O c. The FM regession "controls for" unobserved individual/unit effects l O d. The FM regression gives the same answer as doing a panel regression with fixed effects

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