Estimation of the covariance matrix of asset returns is crucial to portfolio construction. As suggested by economic theories, the correlation structure among assets differs between emerging markets and developed countries. It is therefore imperative to make rigorous statistical inference on...

Nitrogen loss is a major limiting factor affecting agricultural productivity in saline-alkali soil, with NH3 volatilization and N leaching being the main sources of N loss. In this study, the dynamics of NH3 volatilization was determined by sponge aeration and distribution of NO3- and 15N in...

We extend an existing numerical model (Grasselli (2011)) for valuing a real option to invest in a capital project in an incomplete market with a finite time horizon. In doing so, we include two separate effects: the possibility that the project value is partly describable according to a...

We document a positive and persistent relation between retail investor attention, as measured by Google search volume, and future realized stock return volatility. The relation implies a profitable option trading strategy of purchasing high attention delta-neutral straddles and selling low...