The paper analyses a simplified version of a Glosten-Milgrom style specialist security trading model with trade-timing. In a setting where traders are differentially informed, if the best-informed investors have a sufficiently strong or weak impact on prices then the investors with the strongest impact on prices delay their investment strategically, pretending to be the low-impact types. JEL Cl...

This paper aims at improved accuracy in testing for long-run predictability in noisy series, such as stock market returns. Long-horizon regressions have previously been the dominant approach in this area. We suggest an alternative method that yields more accurate results. We find evidence of predictability in S&P 500 returns even when the confidence intervals are constructed using model-free me...

Recent evidence has shown possible scaling and self-similarity in high frequency financial time series. This paper demonstrates that many of these graphical scaling results could have been generated by a simple stochastic volatility model. This casts doubt on the power of these tests to discern between true scaling and simple highly dependent stochastic processes. JEL Classification: C32, G12 ∗...

Institute of Infection, Immunity and Inflammation, College of Medical, Veterinary and Life Sciences, University of Glasgow, Glasgow G12 8QQ, Scotland, WestCHEM, School of Chemistry, College of Science and Engineering, University of Glasgow, Glasgow G12 8QQ, Scotland, Institute of Molecular Cell and Systems Biology, College of Medical, Veterinary and Life Sciences, University of Glasgow, Glasgow...

This article examines institutions’ investment strategies towards environmental and social (E&S) stocks in the first quarter of 2020, coinciding with COVID-19 pandemic outbreak. Backed both institutional- firm-level analyses, we find that institutional investors shift higher E&S performance. The high portfolios exhibit lower risk return characteristics, outperforming (underperforming) t...

Three rare human G12 strains were detected from diarrheic clinical samples of children (<8 months of age) in Calcutta during a routine surveillance study of rotaviral diarrhea in India. The VP7 genes of G12 strains and their products showed maximum homology (97 to 99% at the nucleotide level and 98% at the amino acid level, respectively) with those of two recently reported G12 strains (from the...

As plataformas de redes sociais são espaços virtuais nos quais a língua é mobilizada em atos enunciação. Por isso, neste estudo, investigamos como se organiza o aparelho/quadro formal da enunciação para compreendermos que forma dão as relações eu-tu nesse contexto particular. Para tanto, partimos um deslocamento teórico dos conceitos teoria linguagem Émile Benveniste, especificamente suas consi...

Metals are toxic agents for which genotoxic effects are often difficult to demonstrate. To study metal mutagenesis, we have used two stable hprt/gpt+ transgenic cell lines that were derived from Chinese hamster V79 cells. Both the G12 and G10 cell lines are known to be very sensitive to clastogens such as X-rays and bleomycin, with the mutagenic response of the integrated xanthine guanine phosp...