Considering the Chinese and U.S. bond risk premia jointly, we find that n-year bond excess return can be forecast by n-year forward rate, rather than forward spread, during 03/2006-12/2016 with R^2s up to 51% and 48%, which means that expectations hypothesis fails in these two markets. Based on...

Forecasting returns for the Artificial Intelligence and Robotics Index is of great significance for financial market stability, and the development of the artificial intelligence industry. To provide investors with a more reliable reference in terms of artificial intelligence index investment,...

The efficient capital markets hypothesis (EMH) posits that security prices incorporate all available information in capital markets. Nevertheless, real stock markets often exhibit speculative behavior due to information asymmetry and the limited rationality of investors. This paper employs...