We conduct efficiency test using the conventional method in Chordia, Roll, and Subrahmanyam (2005) and the wavelet analysis. For the FTSE-100 futures data from January 2001 through December 2004, both approaches identify that, conditional on order imbalance, it takes about 10 minutes for the...

This article investigates out-of-sample performance of the naïve hedging strategy relative to that of the minimum variance hedging strategy, in which the covariance parameters are estimated from eighteen econometric models. Hedging performance is compared across twenty-four futures markets. Our...

Seven new 2-(2-Phenethyl) chromone derivatives ( 1-7 ), including four 2-(2-Phenethyl) chromone s ( 1-4 ), one 6, 7, 8 trihydroxy-2-(2-Phenethyl) chromone ( 5 ), one acetylated 5, 6, 7, 8-tetrahydroxy-2-(2-Phenethyl) chromone ( 6 ), and one chlorine-containing 5, 6, 7,...