Purpose: The purpose of this paper is to choose a optimal routing in fourth party logistics (4PL) with the objective of transportation cost minimization under reliability level constraint. Design/methodology/approach: Reliability theory is applied to routing optimization problem. A mathematical...

We develop tests for deciding whether a large cross‐section of asset prices obey an exact factor structure at the times of factor jumps. Such jump dependence is implied by standard linear factor models. Our inference is based on a panel of asset returns with asymptotically increasing...

We propose a semiparametric two-step inference procedure for a finite-dimensional parameter based on moment conditions constructed from high-frequency data. The population moment conditions take the form of temporally integrated functionals of state-variable processes that include the latent...

This paper proposes a test for the conditional superior predictive ability (CSPA) of a family of forecast methods with respect to a benchmark. The test is functional in nature: Under the null hypothesis, the benchmark's conditional expected loss is no more than those of the competitors,...