Browsing by Author "Li X"
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- ItemBiochar can Increase Chinese Cabbage (Brassica oleracea L.) Yield, Decrease Nitrogen and Phosphorus Leaching Losses in Intensive Vegetable Soil(Tech Science Press, 2021-08-16) Sun H; Jeyakumar P; Xiao H; Li X; Liu J; Yu M; Rana P; Shi WThere are few evidences on the effect of biochar on vegetable yield, nitrogen (N) and phosphorus (P) leaching losses under intensive vegetable production soil. The current field plot scale study evaluated responses of Chinese cabbage (Brassica oleracea L.) yield, N and P leaching losses using five N treatments of common N application rate according to local farmers’ practice (N100%), reducing 20% or 40% N fertilizer (N80% and N60%), and reducing 40% N fertilizer but incorporating 10 or 20 t/ha biochar (N60% + BC10 and N60% + BC20). Results showed that N80% and N60% decreased both the cabbage economic and leaf yields by 6.8%–36.3% and 27.4%–37.7%, respectively. Incorporation of biochar with reduced N fertilizer rates improved the cabbage yield, in particular the N60% + BC20 matched the yield that observed in N100% treatment. Enhanced N and P uptake capacities of cabbage shoot probably contributed the higher vegetable production under both biochar amendment schemes. Biochar application mitigated the NH+4-N and total P leaching losses by 20%–30% and 29%–32%, respectively, compared with their counterpart treatment N60%. Nevertheless, biochar exerted no influence on the NO–3-N leaching. In addition, soil organic matter content was recorded with 7.4%–28.7% higher following 10–20 t/ha bio-char application. In conclusion, biochar application can increase economic yield of cabbage via increasing N and P use efficiency, decrease N and P leaching losses, and improve soil quality in an intensive vegetable production system.
- ItemStyle Consistency and Industry Concentration of Chinese Mutual Funds(2019-07-10) Zou L; Tang T; Li X; Young MThis paper provides a comprehensive analysis on the relationship between the mutual funds style consistency and performances in China. Using characteristic-based and factor-based analysis, our results indicate that mutual fund managers have stock picking talents over time, with relative weak ability to time the market. Style investments contribute the most to funds’ gross returns. Active funds exhibit lower style consistency but still realise better net returns compared to their passive counterparts. Results further suggest that mutual fund managers who concentrate their holdings in certain industries perform better after controlling for common risk factors. Therefore, we conclude that Chinese mutual fund managers have better industry selection ability.
- ItemThe commodity price and exchange rate dynamics(Scientific Research Publishing, 2017-10-02) Zou L; Zheng B; Li X; Chambers, RThis paper investigates the dynamic relationship between the commodity price and the exchange rate in Australia and New Zealand. We focus on Australia and New Zealand. Not only do their primary commodities account for significant shares of their exports, but also their currencies share some distinctive characteristics that are unique from other commodity currencies. Using country-specific commodity price indices, we examine the relationship between the departure of currency value from its fair value and fundamental macroeconomic variables. Evidence of a strong and robust relationship between the exchange rate and the commodity price has been found. Results indicate that the commodity price can be used to improve the forecast ability of the future exchange rate. Our commodity-price-augmented exchange rate forecasting model consistently outperforms the random-walk model, for both in-sample and out-of-sample forecasting. These results shed some extra lights on policymaking for countries that rely on primary commodity production, and attempt to move towards floating exchange rate regimes as part of their global market liberalization process