A Comparative Analysis of the Market Model and the Multiple‐Factor Market Model
比较了多因子市场模型与传统市场模型在跨国公司信息含量研究中的效果，发现多因子模型更优，建议长事件窗口研究采用多因子模型以提高检验效力。
This study uses the framework of Patell (1979) to determine whether a multiple‐factor market model or a traditional market model is more effective for information content studies of multinational firms. The multiple‐factor market model is found to be superior to the traditional market model. Researchers wishing to test for information content for events with long event windows should consider using multiple factor models rather than the traditional market model, as it will increase the power of the test.