In this study, we produced biodiesel by utilising waste cooking oil as a raw material, unrefined methanol produced by a chemical plant as a transesterification agent and sodium hydroxide as a catalyst. The yield and heating value of the biodiesel produced with unrefined methanol were...

We investigate whether skilled hedge fund managers are more likely to pursue unique investment strategies that result in superior performance. We propose a measure of the distinctiveness of a fund's investment strategy based on historical fund return data. We call the measure the "Strategy...

The asymmetrical distribution of debris-flow velocity in a cross-section has long been observed and is currently regarded as one of the most essential issues in debris-flow research. Due to a lack of quantitative models for the velocity distributions of debris flows, most studies consider only...

Subsequent rainfall after a strong earthquake can easily trigger landslides. Aerial photography is always available after a strong earthquake but not always available in a timely manner after a subsequent rainfall following the earthquake. Sometimes, only panchromatic imagery is available...

We study a significant innovation with widespread consequences for the mutual fund industry: the introduction of multiple-class funds that give investors a choice among alternative load and fee structures. The transition to a multiple-class structure represents an important step in the evolution...

Despite extensive disclosure requirements, mutual fund investors do not observe all actions of fund managers. We estimate the impact of unobserved actions on fund returns using the return gap, which is defined as the difference between the reported fund return and the return of a portfolio that...

Mutual fund managers may decide to deviate from a well-diversified portfolio and concentrate their holdings in industries where they have informational advantages. In this paper, we study the relation between the industry concentration and the performance of actively managed U.S. mutual funds...

Mutual fund managers may decide to deviate from a well-diversified portfolio and concentrate their holdings in industries where they have informational advantages. In this paper, we study the relation between the industry concentration and the performance of actively managed U.S. mutual funds...