| Author (Year) | Research Purpose | Model | Estimation | Data |
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| Method | Country | Model factors | Frequency & Period |
| Hou et al. (2014) | Model Comparison | FF5-Normal, C, q-factor | - | USA | Mkt, SMB, RMW, CMA, WML, HMLO | M1972:1-2011:12 |
| Fama et al. (2015) | FF4 Extension | FF5-Normal | - | USA | Mkt, SMB, HMLO, RMW, CMA | M1963:7-2013:12 |
| Fama et al. (2014) | Model Comparison | CAPM, FF3, FF4, | - | USA | Mkt, SMB, HMLO, RMW, CMA, WML | M1963:7-2014:12 |
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| FF5-Normal, FF5+WML |
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| Hou et al. (2015) | Model Comparison | FF5-Normal, C, q-factor | - | USA | Mkt, SMB, HMLO, RMW, CMA, WML | M1967:1-2013:12 |
| Harshita et al. (2015) | Model Comparison | CAPM, FF3, FF5-Normal | - | India | Mkt, SMB, HMLO, RMW, CMA | M1999:10-2014:9 |
| Chiah et al. (2015) | Model Comparison | FF3, FF5-Normal | HAC-adj. OLS | Australia | Mkt, SMB, HMLO, RMW, CMA | M1982:12-2012:12 |
| Fama et al. (2015) | Empirical Tests | FF5-Normal | - | Global | Mkt, SMB, HMLO, RMW, CMA | M1990:7-2014:9 |
| Harvey et al. (2015) | Model Extension | 14-factor | OLS | USA | Mkt, SMB, HMLO, RMW, CMA et al. | M1968:1-2012:12 |
| Zhou & Li (2016) | Model Extension | FF5-SSAEPD-GARCH | MLE | USA | Mkt, SMB, HMLO, RMW, CMA |
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