We examine the effect of realized skewness on Chinese stock returns. We construct realized skewness by using intraday data at a monthly horizon. Our study finds a significant negative relation between realized skewness and future stock returns in both portfolio analyses and cross-sectional...

In this paper, we reveal that in the Chinese stock market, the significant negative relationship between tail risk and expected returns only exists when excluding the bottom 30% market capitalization (small-cap) stocks, a finding that helps to reconcile the mixed result of the tail risk effect...

Bioconversion of organics in food waste (FW) to volatile fatty acids (VFAs) via anaerobic fermentation is attractive for sustainable development. In practice, the daily output and composition of FW fluctuate greatly, interfering with the fermentation process. Hydraulic retention time (HRT) and...