–Modigliani measure, Treynor ratio, Jensen’s alpha, information ratio, Fama’s decomposition measure and Fama and French’s three-factor … model, have been used in this study along with the t -test. Findings All three indices (CARBONEX, GREENEX and BSE 500) had …

This article applies the alternative three-factor model introduced by Chen / Novy-Marx / Zhang (2010) to the German … profitable firms exhibit higher returns. However, we find that the alternative three-factor model does not explain capital market … anomalies in the German market better than the factors of the traditional Fama / French (1993) three-factor model. …

in the application of Fama-French's three-factor model to the Pakistani stock returns. We find that the special features … in Pakistan significantly affect size and value factors and also influence the explanatory power of the three-factor … model. Additionally, the paper examines the ability of the three factors to predict the future growth of Pakistan's economy …

in the application of Fama-French’s three-factor model to the Pakistani stock returns. We find that the special features … in Pakistan significantly affect size and value factors and also influence the explanatory power of the three-factor … model. Additionally, the paper examines the ability of the three factors to predict the future growth of Pakistan’s economy …