This paper examines the relation between investor overconfidence and the idiosyncratic volatility of stock returns. We use investor sentiment, stock turnover, stock misvaluation, and institutional ownership to measure the influence of investor overconfidence on stocks, and find that...

In this paper we measure stock misvaluation following Rhodes-Kropf et al. (2005) and examine its relation to stock returns. We find that the misvaluation measure has incremental explanatory power for future returns over size, book-to-market ratio, momentum, and the share issuance effect. Based...

Using data of 6 pollution-free agricultural product bases in Guangxi Zhuang Autonomous Region, this paper analyzed content of heavy metals, including arsenic (As), mercury (Hg), lead (Pb), cadmium (Cd), and chromium (Cr) in soil. After Pb, Cd, Cr, Hg and As content in soil is determined, it...

The primary purpose of our paper is to evaluate environmental performance as well as to model some nonseparable inputs and outputs using the data envelopment analysis (DEA) model. The efficiency analysis takes emission quota into consideration with the objectives of minimizing both total...

When a firm cross-lists its shares in segmented markets, the price of the first issued share, as a reference, plays both an informational and anchoring role in pricing the second issued share. We develop a model illustrating the dual-role. Empirically, we examine a group of Chinese firms that...

We measure an individual stock’s misvaluation based on the deviation of its price from predicted intrinsic value. Both under- and overvalued stocks identified by this misvaluation measure exhibit greater valuation uncertainty and arbitrage difficulty, and the misvaluation measure strongly...

The Malmquist productivity index studies productivity change, that is, the technical progress or regress together with the efficiency changes over time. In a nonparametric framework, the index can be estimated by data envelopment analysis (DEA). In this paper, first all inputs are divided into...

China launched a pilot scheme in March 2010 to lift the ban on short-selling and margin-trading for stocks on a designated list. We find that stocks experience negative returns when added to the list. After the ban is lifted, price efficiency increases while stock return volatility decreases....

Climatic characteristics of foreign low latitude plateau regions are firstly introduced. Then, experience and lessons of major foreign low latitude plateau countries in developing modern agriculture are analyzed, including Indian three agricultural revolutions and agricultural informationization...