The paper investigates how the availability heuristic of individual stocks affects equity returns, where the availability heuristic is measured by the irrational signal in the fractal dimension. Our evidence support that the availability heuristic can positively predict the short-term expected...

With the theories and rules of electricity markets developing rapidly, it's difficult for beginners to start learning and difficult for those in the field to keep up. Bringing together information previously scattered among various journals and scholarly articles, this book provides a...

This paper provides a measurement of framing effects in the stock market by using actual market open trading data, and provide a test of this new firm-special behavioral characteristic. We adopt univariate and bivariate portfolio-level analyses with seminal rational and behavioral factors, to...

Anchoring bias (AB) measured at the end of each month by the absolute slope coefficient of a 1-year rolling window regressing relative net purchase ratio on a 52-week high ratio, significantly and negatively predicts 1-months-ahead stock returns both in-sample and out-of-sample. We show...

Anchoring bias (AB) measured at the end of each month by the absolute slope coefficient of a 1-year rolling window regressing relative net purchase ratio on a 52-week high ratio, significantly and negatively predicts 1-months-ahead stock returns both in-sample and out-of-sample. We show...

This paper explores the predictive power of the absolute delta beta (ADB) on future cross-sectional stock returns. By univariate portfolio analysis, bivariate portfolio analysis, and decomposition of predictive power, we find that the ADB can produce an excess return in the next month. The...

This paper defines the A-share market carbon risk index, and empirically tests the impact of carbon risk on China’s stock returns. The research results show carbon risk is correlated negatively with excess returns on equities and has proven to be a systemic risk. Mechanism analysis shows that...

Approximately 60% of global greenhouse gas (GHG) emissions are attributable to household consumption, which represents great opportunity to mitigate them. However, most research has focused only on CO2 emissions, and pays limited attention to non-CO2, which accounts for a quarter of household...

Mining, smelting and tailing deposition activities can cause metal(loid) contamination in surrounding soils, threatening ecosystems and human health. Microbial indicators have a crucial role in evaluating soil quality. Selecting the Xikuangshan antimony mine in China as the research area, the...