The proportion of exchange‐listed firms with negative earnings has increased to over 40% in recent years. Previous research shows that the valuation of these loss firms is comparably difficult due to their uncertain future earnings path. Given these valuation issues, we argue that the stocks...

The asset-pricing models have been a fundamental area of research in finance due to its applicability in corporate finance and stock analysis. The present research attempted to evaluate the three popular asset-pricing models namely the capital asset-pricing model, the Fama-French three-factor...