This paper deals with the analysis of the Purchasing Power Parity (PPP) hypothesis in China by means of fractional integration or I(d) techniques. Using real exchange rates data between the Chinese Yuan and the US dollar, the results indicate that the estimated integration order d is generally...

In this study, the spatial characteristics of agricultural drought vulnerability in China were investigated using a GIS-based agricultural drought vulnerability assessment model, which was constructed by selecting three agricultural drought vulnerability factors. Seasonal crop water deficiency,...

Based on the natural disaster analysis theory, the spatial characteristics of agricultural drought risk in China were investigated at 10 × 10 km grid scale. It shows that agricultural drought risk in China has a clear southeast–northwest spatial pattern. High and very high risk mainly...

Lignite is a kind of low rank coal with high moisture content and low net heating value, which is mainly used for electric power generation. However, the thermal efficiency of power plants firing lignite directly is very low. Pre-drying is a proactive option, dehydrating raw lignite to raise its...

Batch processing machine scheduling in uncertain environment attracts more and more attention in the last decade. This paper deals with semi-online scheduling on two parallel batch processing machines with non-decreasing processing time of job. Jobs arrive over time in the online paradigm, and...

Pre-drying of lignite before feeding to the boiler is a potential way to increase the net efficiency of lignite-fired power plants. Lignite pre-drying is, however, a high energy consumption process with a high risk of spontaneous ignition. If the lignite is dried at low temperature, the...

Because they are scaled by price, the ability of size (i.e., the market capitalization of a firm) and the book-to-market equity ratio to determine expected returns may, according to Berk (1995), reflect only a simultaneity bias. The two-stage least squares approach is used to control for this...

Novy-Marx (2010) finds that momentum is primarily driven by stock performance twelve to seven months prior to portfolio formation in the US market. We examine whether this finding holds in international stock markets. In particular, we investigate whether intermediate horizon past performance is...