Testing the Insider Trading Anomaly in FTSE-350.

In recent studies, numerous anomalies against the weak and semi-strong-forms of efficient market hypothesis (EMH) have been found insignificant after controlling the small-firm effect. We investigate whether the insider trading anomaly, a major anomaly against the strong-form of EMH, can survive after excluding small firms with a novel data set (FTSE-350) and document several new findings. We find a substantially larger number of insider purchases than sales, while the average volume of insider sales is much higher than the average volume of insider purchases. Echoing recent US studies, we find that insider sales generate more abnormal returns than insider purchases do. We find much lower abnormal returns from insider trading than documented in the literature and the associated trading costs, which suggests that the market efficiency of individual stocks may depend on their sizes, and even the strong-form of EMH holds to a larger extent than previously recognized.

Epidemics, Public Sentiment, and Infectious Disease Equity Market Volatility.

Background: This article studies the relationship between the COVID-19 epidemic, public sentiment, and the volatility of infectious disease equities from the perspective of the United States. We use weekly data from January 3, 2020 to March 7, 2021. This provides a sufficient dataset for empirical analysis. Granger causality test results prove the two-way relationship between the fluctuation of infectious disease equities and confirmed cases. In addition, confirmed cases will cause the public to search for COVID-19 tests, and COVID-19 tests will also cause fluctuations in infectious disease equities, but there is no reverse correlation. The results of this research are useful to investors and policy makers. Investors can use the number of confirmed cases to predict the volatility of infectious disease equities. Similarly, policy makers can use the intervention of retrieved information to stabilize public sentiment and equity market fluctuations, and integrate a variety of information to make more scientific judgments on the trends of the epidemic.

A comparative study on nutritive peculiarities of 24 Chinese cowpea cultivars.

The nutritive peculiarities and original distribution of 24 Chinese cowpeas cultivars, achieved from Jiangxi, Jilin, Shanxi and Shaanxi provinces in China, were evaluated. Their nutritional components were determined and nutrient characteristics were discussed. Principal component analysis (PCA) was applied to classify the cowpea samples based on their nutrient composition. The results discovered that the proximate composition varied among 24 cowpeas in protein (17.30-27.23%), fat (1.87-3.14%), high level of dietary fiber (29.49-38.54%) and resistant starch (3.18-31.33%). The total tocopherol varied from 74.20 to 187.07 µg/g. PCA results presented that the 24 cowpeas cultivars were automatically grouped with provinces of origin, indicating a relationship between nutrient composition and cultivating religion for cowpeas. The results of this study provide us the information on the nutrients characteristic of current cowpeas in China, and give a guideline on cowpea cultivating optimization and processing.

Comparative study on antidiabetic function of six legume crude polysaccharides.

The antidiabetic function of polysaccharides prepared from six legumes: soybean, white kidney bean, red kidney bean, small black soybean, field bean, lentil were studied. Six legume polysaccharides' antidiabetic function in high-fat diet and streptozotocin-induced type II diabetic mice were compared. Their effects on body weight, fasting blood glucose (FBG), glycosylated serum protein (GSP), serum insulin levels (HOMA-IR), blood lipids (including total cholesterol (TC), triglyceride (TG), low-density lipoprotein cholesterol (LDL-c), and high-density lipoprotein cholesterol (HDL-c)) were tested. Results showed that red kidney bean polysaccharides (RK) could alleviate the symptoms of emaciation, decreased the levels of FBG, GSP, TC, LDL-c and obviously reduced the concentration of TG and HOMA-IR (p < 0.05). RK exhibited greater antidiabetic potential in type II diabetic mice, compared with other legume polysaccharides. The chemical composition of six legume polysaccharides were determined. Composition analysis indicated that the six legume polysaccharides were obviously different in moisture, ash, neutral sugar, uronic acid, total phenolic content, total flavonoid content, amino acid composition and monosaccharide composition. Results indicated that the antidiabetic activities of RK might due to its higher content and specific structure of polysaccharide.