结果 Table 2 ◆ Local beta and size e No relation between reranking beta and return 灣“日 Postranking beta of the high-beta portfolios exceeds the beta of the low-beta portfolio in 18 countries. Size premium is significant only in a few countries Table 2 如以s#…“苔“片“∷ 结果(续) Table 3 令动能效应与价值型投资收益 9 6-month momentum portfolio returns in 17 countries BM Portfolios: Low BM-growth stocks; high BM value stocks. High BM stocks outperform low BM stocks in 16 countries Table 3 be stte PDF文件使用" pdfFactory Pro"试用版本创建ww, fineprint,cn9 33 结果 v Local beta and size vNo relation between preranking beta and return vPostranking beta of the high-beta portfolios exceeds the beta of the low-beta portfolio in 18 countries. vSize premium is significant only in a few countries Table 2 34 Table 2 35 结果(续) v动能效应与价值型投资收益 v6-month momentum portfolio returns in 17 countries vBM Portfolios: Low BM – growth stocks; high BM – value stocks. High BM stocks outperform low BM stocks in 16 countries. Table 3 36 Table 3 PDF 文件使用 "pdfFactory Pro" 试用版本创建 www.fineprint.cn