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This paper aims to present a hybrid actuator controller to obtain fast and stiff position response without any overshoot by blending input signals of a DC servomotor and a particle brake.

The hybrid actuator controller has a module to estimate instantaneous changes in inertia and a blending algorithm that adjusts input signals to the motor and the brake so that together, as a hybrid actuator, they can achieve a fast, stiff position response without overshoot. The control logic implemented in the controller is derived from the kinematics of the system. For the blending algorithm, two separate cases are explored in which the user has the option to either utilize the full‐braking capacity or specify a safe deceleration limit for the system.

The blending algorithm enables the system to operate nearly twice as fast as the motor‐only case without any overshoot or oscillations. The controller can reject inertial load changes and significant external disturbances.

Such hybrid actuators along with the developed controller can be used in robotics and automation to increase the system accuracy and operational speed resulting in higher production rates. In addition, much stiffer haptic force feedback interfaces for virtual reality applications can be designed with smaller actuators. The blending algorithm provides considerable improvements and uses a physics‐based simple and easy‐to‐implement structure.

This study aims to document the time varying risk premia for market, size, value and momentum factors for an emerging market using a sophisticated conditional asset pricing model. The focus of this study is Turkish stock market denominated in local currency with its peculiar risk premia.

The authors employ Gagliardini et al.'s (2016) econometric method that uses cross-sectional and time series information simultaneously to infer the path of risk premia from individual stocks.

Using this methodology, the authors assess several conditioning information and conclude that local dividend yield, inflation and exchange rates have the most explanatory power. The authors document the time varying risk premia in Turkey over three decades.

Existing studies on dynamic estimation of risk premia lack a consensus as to which state variables should be included and to what extent they impact the magnitude of the premium. The authors extend the conditioning information set beyond the ones existing in the literature to determine variables that are specifically important for an emerging market.