| Number of firms | Excess return | Capitalization | |||||||
| Year | Fam | NFam | Fam | NFam | Difference | t-statistic | Fam | NFam | Difference |
| 2007 | 184 | 633 | 0.03 | 0.03 | −0.0003 | −0.06 | 4.18 | 12.20 | −8.03 |
| 2008 | 182 | 640 | −0.12 | −0.12 | −0.004 | −0.78 | 3.81 | 17.13 | −13.32 |
| 2009 | 183 | 645 | 0.04 | 0.03 | 0.01*** | 2.90 | 3.86 | 14.40 | −10.54 |
| 2010 | 184 | 660 | −0.03 | −0.04 | 0.006** | 2.04 | 5.78 | 16.62 | −10.84 |
| 2011 | 214 | 666 | −0.07 | −0.08 | 0.005** | 2.13 | 6.99 | 16.79 | −9.80 |
| 2012 | 230 | 677 | −0.08 | −0.08 | −0.0004 | −0.13 | 5.72 | 13.53 | −7.81 |
| 2013 | 231 | 675 | −0.03 | −0.03 | 0.002 | 0.87 | 6.51 | 13.16 | −6.65 |
| 2014 | 246 | 688 | −0.03 | −0.03 | 0.002 | 0.75 | 7.75 | 13.93 | −6.18 |
| 2015 | 322 | 700 | 0.01 | −0.01 | 0.02*** | 4.95 | 12.95 | 24.62 | −11.68 |
| 2016 | 322 | 698 | −0.04 | −0.04 | 0.001 | 0.39 | 12.12 | 20.61 | −8.49 |
| Mean | 229.8 | 668.2 | −0.03 | −0.04 | 0.004 | 6.97 | 16.30 | −9.33 | |