This paper investigates the time-varying corporate bond index returns in a multi-factor smooth transition regression model. We find that expected index returns vary between weak and strong economic regimes, where the transition from one regime to the other is governed by the 3-quartered growth...

This paper tests the alternative hypotheses of investment selection skills versus overconfidence of equity mutual funds managers in Taiwan. We find that fund holdings’ concentration levels are high and positively related to funds’ risk-adjusted returns in tranquil market periods; however,...

Extrusion pretreatment was applied to enhance fermentative methane production from rice straw. The extrusion-pretreated rice straw (EPRS) showed significant particle size reduction, physical properties improvement and volume expansion, as compared to the milling-pretreatment rice straw (MPRS)...

The course of urban environmental management (UEM) development in China is reviewed and analysed in this paper. The current situation that exists in the field of urban environmental management is also analysed from the aspects of the legislation, environmental policies, economic incentives and...

type="main" xml:lang="fr" <p>Seit Beginn der Reformen und der Öffnungspolitik 1978 hat sich Chinas Landwirtschaft und ländlicher Raum enorm weiterentwickelt. China hat seitdem nicht nur seine 1.3 Milliarden Einwohner ernährt, sondern auch zur internationalen Agrarentwicklung und...</p>

China has made great advances in its agricultural and rural development since the reforms and opening-up that began in 1978. It has not only fed its population of 1.3 billion, but has also contributed to international agricultural development and food security. Agricultural production registered...

A popular argument states that most of the diversification in a portfolio can be obtained with a rather small number of securities. In this paper we present three algorithms to approach the underlying NP-hard problem of portfolio optimization with a cardinality constraint. All three of these...

Bank regulation is supposed to reduce the probability of bank failure and, if a failure occurs, to contain the damage so that system-wide problems are unlikely. The current regulatory framework, known as Basel II, is based, among other things, on risk-adjusted capital requirements. This...