Mutual funds’ maximum drawdowns (MDDs) are persistent, indicative of manager skill, and predictive of subsequent performance. Among funds with relatively strong past performance, those with relatively low past MDDs, on average, have an out-of-sample alpha of 2.40% per year. That alpha is...

Purpose: The purpose of this paper is to discuss whether top management will assume their liabilities especially when financial restatement occurs, and,based on the “effective supervision theory” and “strategic cooperation theory,” to examine whether an institutional investor is a...

Purpose: Enterprises often use anthropomorphic images to display products. In this study, by discussing the differences of the anthropomorphic images of juxtaposition and fusion, the authors can distinguish the boundary conditions of the influence of different visual object structures on...

An Overview on Material Science and Engineering -- Analysis and Exposition Regarding Advanced Materials in the National Program -- The Status Quo of Material Science in China -- Demands Analysis of China’s Economic and Social Development on Advanced Materials -- Development Targets and...