Question
This question pertains to market returns. How do you standardize industry returns to include them as a factor in analysis? I understand that for SMB
This question pertains to market returns. How do you standardize industry returns to include them as a factor in analysis? I understand that for SMB and HML we don't subtract out the risk-free rate since those are giving us excess returns. Any kind of help for this question would be great.
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Financial Management Principles And Practice
Authors: Timothy J. Gallagher, Joseph D. Andrew
3rd Edition
0131768824, 978-0131768826
