In this study Fama and French three-factor model is augmented to take into account the time variation in systematic risk (as measured by time-varying betas), in addition to size and book-to market equity factors. It is investigated whether the two factors are still priced on the stock exchange...

The inequality issue has become a central concern for the majority of economists. Financialization is, among others, a major cause of inequalities in income and wealth. This paper examines opinions of some noted scholars on this issue. In reality, the financial sector has moved away from its...