查看更多>>摘要：According to the stock data of coal companies listed in China's A-share market from 2013 to 2017, the application of CAPM and Fama-French three-factor model in rate of return prediction is analyzed. Ad the paper draws the following conclusions: China's coal industry stock market has significant size and value effects;both models can explain the risks faced by the stocks in coal industry although adjusted of some portfolio are not very significant , but the FF3 model is superior to the CAPM model.
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