61592 20221020131653.0 doi 10.1080/13504851.2016.1192266 sideral 97857 ART-2017-97857 eng Ferruz, L. Universidad de Zaragoza (orcid)0000-0002-3816-9747 Adapting and testing the Fama and French model, with some variations of company characteristics 2017 Access copy available to the general public Unrestricted We examine whether the Fama and French (1992) (F&F) model can be adapted to become a more versatile and flexible tool, capable of incorporating variations of company characteristics in a more dynamic form. For this, the risk factors are reconstructed at the end of each reading of monthly data. We argue that, over time, the evaluation of a company may change as a result of variations in its market price, size or book price, and we are aware that the F&F model does not accurately reflect these dynamics. Our results show that the adapted model is able to capture the behaviour of a greater number of stocks than the original F&F model and risk factors are more significant when building them through our procedure. In addition, we carry out these adaptations during a period of instability in financial markets. info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-11101 info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-91101 info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 0.504 2017 ECONOMICS 298 / 353 = 0.844 2017 Q4 T3 0.327 2017 Economics and Econometrics 2017 Q3 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Badía, G. Universidad de Zaragoza (orcid)0000-0003-2795-3728 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 24, 5 (2017), 342-345 Appl. econ. lett. APPLIED ECONOMICS LETTERS 1350-4851 374877 http://zaguan.unizar.es/record/61592/files/texto_completo.pdf Postprint 113632 http://zaguan.unizar.es/record/61592/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:61592 articulos driver 2022-10-20-13:05:06 ARTICLE