unemployment rate and actual unemployment gap, on the cross-sectional stock returns in the Australian market. Utilising the … monthly-varying sensitivity of returns to the actual and forecasted unemployment levels. The findings confirm that stocks in … the lowest unemployment beta decile can generate higher excess and risk-adjusted returns compared to the higher …

This paper investigates the conditional association between betas and returns in sample of 206 firms listed on the … Pakistan Stock Exchange (PSX). Results of this study show that the relationship between betas and stock returns is flat when … relationship between risk and returns. The results support the view that beta is still a valid tool for risk measurement in an …