【摘要】 本文主要介绍法玛和弗伦奇最新提出的资本资产定价五因子模型的产生背景、主要内容和未来的研究方向。论文主要以历史文献为基础,系统和深入地讨论资本资产定价理论的演变过程,从而为更好地理解和应用资本资产五因子模型提供了相关背景知识和理论基础,也有助于我国学术界未来对资本资产五因子模型的延伸研究和实际应用。更多还原

【Abstract】 This paper introduces the five-factor asset pricing model newly developed by Fama and French. The study is largely based on the literatures and focus on the history background and the evolution of asset pricing theory. It provides related knowledge and theoretical basis for understanding the five-factor asset pricing model,and insights on how the asset pricing model is going to be developed in the future.更多还原