This paper examines the relationship among daily information flow, return volatility, and bid-ask spreads based on the framework of the mixture of distribution hypothesis (MDH). The MDH model is modified to permit separate effects of informed and liquidity trading volume on return volatility....

We investigate the cross-sectional predictive relations between stock returns of two public firms with one firm, the parent, owning partial equity of the other, the subsidiary. We find that high past returns of the subsidiary (parent) predict high future returns of the parent (subsidiary). The...

Council of Real Estate Investment Fiduciaries (NCREIF) index. NCREIF total return and appreciation indexes are smooth and exhibit strong autocorrelation and autoregressive heteroscedasticity. We test the information transmission from the NAREIT index to the NCREIF index. In our VAR analysis, the...

Development of a low-cost anode for sodium (Na) ion battery (NIB) has become the most desirable target in today’s energy demanding society. In this work, we present different treatments of sugarcane biomass to alter the lignocellulose compositions to obtain low-cost porous carbon as NIB’s...

The direct conversion of CO2 and CH4 into liquid products is a meaningful process but full of challenges, especially for tuning the liquid product distribution. Here, Cu and amino group functionalized metal-organic frameworks catalyst (Cu/UiO-66-NH2 ) were designed for a one-step synthesis of...

We use machine learning techniques to conduct out-of-sample predictions of the underpricing of U.S. initial public offerings (IPOs) from 1990 to 2019. Using predicted underpricing based on ex ante information to sort the IPOs into 10 groups, we find that the underpricing averages for the top and...