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        Negative Market Volatility Risk Premium: Evidence from the LIFFE Equity Index Options

        Bing-Huei Lin,Yin-Jung Chen 한국증권학회 2009 Asia-Pacific Journal of Financial Studies Vol.38 No.5

        We provide non-parametric empirical evidence regarding negative volatility risk premium using LIFFE equity index options. In addition, we incorporate the moment-adjusted option delta hedge ratio to mitigate the effect of model misspecification. From the results, we observe several interesting phenomena. First, the delta-hedged gains are negative. Second, with a correction for model misspecification, higher-order moments measures show less significance and the volatility risk premium still plays a key role in affecting delta-hedged gains. All empirical evidence supports the existence of negative volatility risk premium in LIFFE equity index options.

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        Preparation of Carotenoids and Chlorophylls from Gynostemma pentaphyllum (Thunb.) Makino and Their Antiproliferation Effect on Hepatoma Cell

        Yu-Chian Tsai,Wen-Bin Wu,Bing-Huei Chen 한국식품영양과학회 2010 Journal of medicinal food Vol.13 No.6

        A preparative column chromatographic method for isolation of carotenoids and chlorophylls from Gynostemma pentaphyllum, a traditional Chinese herb, was developed to evaluate their antiproliferative effects on the hepatoma cell Hep3B. An open column containing 70g of magnesium oxide–diatomaceous earth (1:2.5, wt/wt) was used to elute carotenoid with 2% ethanol in ethyl acetate and chlorophyll with 50% ethanol in acetone. After high-performance liquid chromatography–mass spectrometry analysis, the carotenoid fraction was composed of all-trans- and cis-isomers of lutein, α-carotene, and β-carotene as well as epoxy-containing carotenoids, while the chlorophyll fraction consisted of chlorophylls a and b and their derivatives. Both carotenoid and chlorophyll fractions as well as lutein and chlorophyll a standards at 50–100μg/mL were effective against Hep3B cells with a dose-dependent response with the following order: carotenoid fraction>chlorophyll fraction>lutein>chlorophyll a. For all treatments, the cell cycle was arrested in the G0/G1 phase, with Hep3B cells undergoing necrosis or apoptosis.

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