Variables | Ri - Rf | ||
(1) G = 1 | (2) G = 2 | (3) G = 3 | |
L_IV | −0.197** | −0.123 | 0.325*** |
(−2.53) | (−1.26) | (4.21) | |
MKT | 0.319 | 0.377 | 0.296* |
(1.85) | (2.00) | (1.80) | |
HML | 0.00926 | 0.0113 | 0.0199 |
(0.26) | (0.32) | (0.57) | |
SMB | −0.0233 | −0.0154 | −0.0280 |
(−0.66) | (−0.42) | (−0.81) | |
_CONS | 0.0908 | −0.0520 | −0.324*** |
(1.43) | (−0.82) | (−4.49) | |
N | 5332 | 5321 | 5326 |
Adj-R2 | 0.051 | 0.068 | 0.047 |