This paper uses unique NYSE audit trail data to evaluate spreads and information content for different order types. Actual spreads are positive for liquidity-demanding orders and negative for liquidity-supplying orders after controlling for order direction. However, because a large fraction of liquidity-demanding orders get price improvement, the actual spread for liquidity-demanding orders is ...

This paper employs Data Envelopment Analysis to measure for the first time the performance of Greek domestic equity mutual funds over four different one-year horizons and for the whole four-year period. In particular, the model used examines whether fund managers employ inputs (i.e. assets, loads, and risk) efficiently to produce output (returns). The results demonstrate that the efficient fund...

Regulation of Money Market Funds (MMFs) in the EU requires some categories MMFs to consider applying liquidity management tools if they breach a minimum ‘weekly’ requirement. Anticipation application such is plausible amplifier run risks. Using larger European dataset than previously studied, we assess whether proximity thresholds explains differences redemptions both at start COVID-19 crisis a...

Genotype-environment interaction (GEI) is very important for breeders. It considered a complicated issue in breeding programs to obtain stable and high-yielding genotypes release new genotypes. This study was conducted achieve genotype that adaptive climatic conditions of potato-producing regions Iran. A total 20 potato lines along with five commercial varieties (Savalan, Agria, Caesar, Luta Sa...

In the course of investigating anti-DNA autoantibodies, we examined IgM and IgG antibodies to poly-G and other oligonucleotides in the sera of healthy persons and those diagnosed with systemic lupus erythematosus (SLE), scleroderma (SSc), or pemphigus vulgaris (PV); we used an antigen microarray and informatic analysis. We now report that all of the 135 humans studied, irrespective of health or...

The choice and recommendation of a variety for commercial cultivation are influenced by genotype x environment interaction (GEI)). complication (GEI) is that usually involves layout trials in various seasons, making it difficult to identify the adapted different environments. Twenty sugarcane clones four standard checks were evaluated under three environments within tropical climate. Additive Ma...

Viral community structure and dynamics were investigated for the first time in surface waters (0–20m) of Lake Geneva over a 5-month period between July and November 2011. Abundances of autotrophic picoplankton, heterotrophic bacteria and virus-like particles determined using flow cytometry revealed their predominance during the summer months followed by a slight decrease in fall. Two groups of ...

This paper …nds that fund herding, de…ned as the tendency of a mutual fund to follow past aggregate institutional trades, is an important predictor of mutual fund performance. Examining actively managed U.S. equity mutual funds over the period 1990-2009, we …nd that funds with a higher herding tendency achieve lower future returns. The performance gap between herding and antiherding funds is pe...

37 per cent of all human-induced methane, which is largely produced by the digestive system of ruminants, and 64 per cent of ammonia, which contributes significantly to acid rain. Livestock now use 30 per cent of the earth’s entire land surface, the report says, mostly on permanent pasture but also including 33 per cent of the global arable land — used to produce feed for livestock, the report ...