(0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | |
SMB | 0.0010 | 0.0010 | 0.0002 | 0.0002 | 0.0014 | 0.0014 | 0.0041** | 0.0041** | 0.0028* | 0.0028* | 0.0050 | 0.0049 |
(0.48) | (0.48) | (0.87) | (0.91) | (0.72) | (0.72) | (0.01) | (0.01) | (0.07) | (0.07) | (0.26) | (0.27) | |
HML | 0.0019*** | 0.0019*** | 0.0019*** | 0.0019*** | 0.0114*** | 0.0114*** | 0.0020*** | 0.0020*** | 0.0020*** | 0.0020*** | 0.0113*** | 0.0113*** |
(0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | |
Countries sold | 0.0019*** | 0.0019*** | 0.0019*** | 0.0019*** | 0.0114*** | 0.0114*** | 0.0020*** | 0.0020*** | 0.0020*** | 0.0020*** | 0.0113*** | 0.0113*** |
(0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | (0.00) | |
Adjusted R-squared | 0.065 | 0.065 | 0.054 | 0.054 | 0.087 | 0.087 | 0.063 | 0.063 | 0.051 | 0.051 | 0.085 | 0.085 |
Number of observations | 543,867 | 543,867 | 352,669 | 352,669 | 191,198 | 191,198 | 543,867 | 543,867 | 352,669 | 352,669 | 191,198 | 191,198 |