Eight lines of running script; two lines with the date and dedication. The writer has not been identified. The date could be 60 years later. The round format is not that common in the collection. Round or slightly oval fans are a much older form of fan, and examples with the calligraphy of Song Emperors survive in modern collections. The writing, in a fluid running script, is also suggestive of that era.
Sixty-four lines alternating between lines of approximately fifteen characters and lines of five characters, all written in a small regular script historically used for transcription of Buddhist sutras. The writer has not been identified. The text is a Buddhist sutra, or sacred text. The copying of such texts has always been seen as a way to gain religious merit, and is something a devout layperson might do. Although many famous calligraphers wrote out Buddhist texts, an ordinary layperson who had no reputation could do as well.
Measuring risk in the stock market is one of the major challenges of modern finance. There is a controversy over which risk premiums should be considered to price assets. This study evaluates the ability of the CAPM and Fama-French Three Factor model to explain stock returns in the empirical Chinese Growth Enterprises Market ground. Applying Fama and French approach, the author constructed six portfolios by size and book to market ratio. Using weekly returns from January 2012 to December 2012, the excess returns for each portfolio were regressed on market, scale and value factors by using time series method. The findings prove the asset pricing models’ weak explanatory power in the Chinese GEM. In addition, this study considers the liquidity factor that is constructed by using traded volumes/ outstanding shares and then sorts six portfolios by size and liquidity. The empirical results show that such a factor is significant in Chinese Second Board Stock Exchange. This article concludes that neither the CAPM nor Fama-French Three Factors models is clearly significant for explaining stock returns on the Chinese Second Stock Exchange, and the introduction liquidity factor will make a more universal asset pricing model in the emerging stock markets.
This seventh album leaf is the text attributing the album to Lu Zhi. The attribution is spurious. The landscapes are fairly well done, but at times, the cranes are awkwardly rendered. The subject is an auspicious one, and the album would have made a nice birthday present, wishing the recipient a long life. The images are pleasant, probably dates to the Qing dynasty.10 1/2 x 12 inches. For one image from the album, click on related record below.
This album of landscapes with cranes includes a seventh leaf giving an attribution to the Ming dynasty master painter Lu Zhi. The attribution is spurious. The landscapes are fairly well done, but at times, the cranes are awkwardly rendered. The subject is an auspicious one, and the album would have made a nice birthday present, wishing the recipient a long life. The images are pleasant, probably dates to the Qing dynasty. 10 1/2 x 12 inches. The album contains six leaves total.