Kenneth French: Background & bio

Kenneth R. French and co-author Eugene F. Fama are well known for their research into the value effect and the three-factor model. They wrote a series of papers, that cast doubt on the validity of the Capital Asset Pricing Model (CAPM), which posits that a stock’s beta alone should explain its average return. These papers describe two factors above and beyond a stock’s market beta which can explain differences in stock returns: market capitalization and “value”. French and Fama also offer evidence that a variety of patterns in average returns, often labeled as “anomalies” in past work, can be explained with their Fama–French three-factor model.

Kenneth French’s other work includes articles such as “The Cross-Section of Expected Stock Returns” and “Common Risk Factors in the Returns on Stocks and Bonds.” Kenneth French’s recent research focuses on tests of asset pricing, the tradeoff between risk and return in domestic and international financial markets, and the relation between capital structure and firm value.

French is a Research Associate at the National Bureau of Economic Research, an Advisory Editor of the Journal of Financial Economics, a former Associate Editor of the Journal of Finance and the Review of Financial Studies, and a former President of the American Finance Association. French is also a Fellow of the American Finance Association and the American Academy of Arts and Sciences, and a member of the Smile Train’s Board of Governors and the International Rescue Committee’s Board of Directors.

Kenneth French: Scholarly Papers

Full list of papers: French, Kenneth R.’s Scholarly Papers

Fama/French Forum: Ideas and observations from Fama and French

Kenneth French: Articles

Kenneth French: Videos

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