We study the optimal trading strategy of mutual funds that face both position limits and differential illiquidity. We provide explicit characterization of the optimal trading strategy and conduct an extensive analytical and numerical analysis of the optimal trading strategy. We show that the optimal trading boundaries are increasing in both the lower and the upper position limits. We find that ...

there are  many  definitions  about  economy . according  to  one of  the  famous  accepted  definitions , economic  laws  have  classified  to two  groups. both  of  them  are  influenced  by  social  structure  and  it’s  changes  so  they  are  different  in  various  societies . movement  from  one  society   to  another  happens  due  to “intellectualize” , principal  maximum  production  ...

abstract: iran passed wide range of events over her controversies history. it has great special geopolitics position, natural resources and cultural values. iran is in asia and connects asia to europe. iran as relational bridge has an important role so that it could be an important center during first and second world war for enemies' forces in spite of explicit neuter declaration from ira...

INTRODUCTION Health and functional capacity have improved especially in Western countries over the past few decades. Nevertheless, the positive secular trend has not been able to decrease an uneven distribution of health. The main aim of this study was to follow-up changes in functional capacity among the same people in six years time and to detect whether the possible changes vary according to...

BACKGROUND Globalization has facilitated the employability of doctors almost anywhere in the world. In recent years, the migration of doctors seems to have increased. However, we lack studies on doctors' migration from developed countries. Because the economic recession experienced by many countries might have affected the migration of doctors, research on this topic is important for the retent...

middle east countries have begun to implement economic reforms to stimulate private investment, promote economic growth and support the transition to market economy. although, it is difficult to define the direct impact of the accounting system reform on economic transformation, as there are many other conditions that have influence on the transition process. however, with the central position ...

BACKGROUND Assessing socio-economic position can be difficult, particularly in developing countries. Collection of socio-economic data usually relies on interviewer-administered questionnaires, but there is little research exploring how questionnaire delivery mode (QDM) influences reporting of these indicators. This paper reports on results of a trial of four QDMs, and the effect of mode on pov...

Slopes of reaction norm models, also called reaction norms (RN), are alternative traits used in animal breeding for selection of genotypes that perform more consistently across a range of environments. Environmental sensitivity is of economic importance when the environment where selection takes place differs considerably from the commercial environment of slaughter pigs. The position on the en...

OBJECTIVE To assess the relationship between several socio-economic indicators and frequency of consumption of seven predefined healthy foods (consumption of fruit, vegetables, wholegrain bread, vegetable-fat spread, vegetable cooking fat, low-fat milk and low-fat cheese) in populations from Eastern, Central and Western Europe. DESIGN Analysis of baseline data collected in two cross-sectional...

In this paper, we argue that the economic miracle of China in the past three decades can be attributed to the reallocation of entrepreneurial talent from the government/state and agricultural sectors to business activities. This change is unprecedented in the past two thousand years of Chinese history. When entrepreneurial talent was moved more to business activities, it created wealth, and the...