The Fama-French model extended the beta by the Size Factor, as small firms may behave differently than large ones for reasons such as growth factors, customer relations, or stronger research abilities. The Value Factor goes on to focus on the cases where Company B might indeed be cheaper as compared to other firms. According to the Fama-French model, Company B might be a value investment target because investors, who work in the value context, look to the book-to-price ratio and expect a firm’s value to grow in the long term in contrast to short-term fluctuation in price. This basic argument to value-oriented investors may now anchor Company B’s share price, notwithstanding an expected return that CAPM puts at a lower level.