Size and book to market effects and the Fama French three factor asset pricing model: Evidence from the Australian stockmarket

The present study adds to the sparse published Australian literature on the size effect, the book to market (BM) effect and the ability of the Fama French three factor model to account for these effects and to improve on the asset pricing ability of the Capital Asset Pricing Model (CAPM). The present study extends the 1981–1991 period examined by Halliwell, Heaney and Sawicki (1999) a further 10 years to 2000 and addresses several limitations and findings of that research. In contrast to Halliwell, Heaney and Sawicki the current study finds the three factor model provides significantly improved explanatory power over the CAPM, and evidence that the BM factor plays a role in asset pricing.

Charlatan philosopher and wise enchantress: Seduction and authority in eighteenth-century French discourses on happiness

In late 1757 Rousseau wrote a series of moral letters on happiness to Mme Sophie d'Houdetot. He distinguished himself and his teaching from the empty babble and hypocrisy prevalent in 'the century of philosophy and reason'. Philosophers were charlatans peddling happiness. This paper shows how Rousseau's critique of philosophy reworks the standard image of charlatans in the public square. It highlights a questioning and a gendering of reason implicit in the issue of credentials for teaching happiness. Against the dubious authority of the philosopher, Rousseau casts Sophie as the wise enchantress whose gentle influence inspires her tutor. He places moral authority outside the public square in a private, feminine domain. Rousseau's ideal woman cannot be a tainted charlatan like him. Yet the very opposition puts her in her place. (Author abstract)