This paper studies an optimal trading problem that incorporates the trader's market view on the terminal asset price distribution and uninformative noise embedded in the asset price dynamics. We model the underlying asset price evolution by an exponential randomized Brownian bridge (rBb) and...

This paper studies the problem of trading futures with transaction costs when the underlying spot price is mean-reverting. Specifically, we model the spot dynamics by the Ornstein-Uhlenbeck (OU), Cox-Ingersoll-Ross (CIR), or exponential Ornstein-Uhlenbeck (XOU) model. The futures term structure...

Recent years have witnessed the growth of mass-marketed tax avoidance schemes aimed at the middle (not top) of the income distribution, with significant implications for tax revenue. We examine the consequences, for the structure of income tax, and for tax authority anti-avoidance efforts, of...

This paper studies the optimal VIX futures trading problems under a regime-switching model. We consider the VIX as mean reversion dynamics with dependence on the regime that switches among a finite number of states. For the trading strategies, we analyze the timings and sequences of the...

Immunochromatographic strip (ICS) has achieved considerable success in contaminant monitoring. Herein, we report the ratiometric fluorescent and colorimetric ICSs (RFICS and RCICS) for rapid and accurate detection of a small molecule fungicide, namely benzothiostrobin. The RFICS and RCICS work...

The SiBCN fibers with excellent electromagnetic microwave (EMW) absorption performance were successfully prepared via polymer-derived ceramics (PDCs) and electrospinning methods at lower preparation temperature. The results showed that the in-situ generated free carbon improved the dielectric...

Exploiting an exogenous decrease in analyst access to private information, we show that firms with analyst following (test firms) experience a significant reduction in R&D investment relative to firms without analyst following (control firms) after Reg FD. We also document that the negative...