We find significant relations between active mutual fund portfolio holdings and executive compensation, which appear to be largely driven by mutual fund investment styles rather than monitoring behaviour. Aggressive growth fund holdings are associated with performance pay, while income fund holdings are negatively related. We also find that mutual fund holdings are insensitive to changes in exe...

Using Monte Carlo simulations, I show that typical out-of-sample forecast exercises for stock returns are unlikely to produce any evidence of predictability, even when there is in fact predictability and the correct model is estimated. JEL classification: C15; C53; G14.

Abstract We report on the detection of a large, extended H i cloud complex in Galaxy and Mass Survey G23 field, located at redshift z ∼ 0.03, observed as part MeerKAT Habitat Galaxies campaign (a pilot survey to explore mosaicing capabilities telescope). The complex, with total mass 10 10.0 M ⊙ , lies proximity large galaxy group dyn 13.5 . identify seven ɪ peak concentrations, interconnected t...

Abstract A total of 24 oat genotypes were evaluated across 9 environments using a randomized complete block design with 3 replications. The combined analysis variance indicated that grain yield was significantly affected by genotype, environment, and genotype environment interaction (GEI). environment's main effect explained 44.62% the variation, whereas GEI captured 28.84% 26.54%, respectively...

This paper examines the performance and diversification properties of active Australian equity fund-of-funds (FoF). Simulation analysis is employed to examine portfolio performance as a function of the number of funds in the portfolio. The paper finds that as the number of funds in a FoF portfolio increases, performance improves in a mean-variance setting, however measures of skewness and kurto...

This paper establishes that the profit-seeking activities of private intermediaries can ensure Pareto efficiency in the standard pure-exchange monetary overlapping generations economy without the need for government monetary or fiscal policy intervention. Moreover, these profit-seeking activities are shown to rule out all aperiodic and kperiodic cycles for k greater than 2. Contrary to much rec...

By the methods of bioinformatics, the sequences of HCV E2 protein from all the genotypes are studied on the variation and the B-cell epitopes. We find that even in the HVR1 and HVR2 regions, there are also some conservative sites, such as T2, G6, G23, and Q26, all of which belong to polar R-base amino acids without charge, and can lost proton to conform hydrogen bond. Meanwhile, we find the con...

This paper provides a new hedge fund replication method, which extends Kat and Palaro (2005) and Papageorgiou, Remillard and Hocquard (2008) to multiple trading assets with both long and short positions. The method generates a target payoff distribution by the cheapest dynamic portfolio. It is regarded as an extension of Dybvig (1988) to continuous-time framework and dynamic portfolio optimizat...

Little is known about the molecular genetic diversity of most Passiflora species. We used RAPD markers to evaluate the genetic diversity of 24 genotypes of the 'sleep' passion fruit (Passiflora setacea). Twelve primers generated 95 markers, 88% of which were polymorphic. The genetic distance estimated by the complement of the Dice index ranged from 0.29 (among accessions Ps-G1 and Ps-G13) ...