Central University of Finance and Economics

Popularity Regression-Based Latent Space Model for Large-Scale Sparse Network Analysis

Degree heterogeneity is one of the most important properties of network data. It is widely observed that degree heterogeneity is often related to the nodal features. In this study, we investigate the estimation and statistical inference for a popularity regression-based latent sp...

Victims’ relational work in online investment fraud

Victims’ participation in online investment frauds is not just justified by egoist desire or greed, but also changing relational frames under uncertainty and ambiguity. Drawing on the concept of relational work from economic sociology, this paper examines how victims of the ‘Chin...

Power outages, multi-product firms, and firm productivity: Theory and evidence from China

This study develops a model of multi-product firms (MPFs) to examine their responses to power outages and the consequent effects on firm productivity. In the model, MPFs mitigate the adverse effects of power outages by discontinuing their less-productive products and focusing mor...

Regular Graphs with Pairwise Distinct K_t-Degrees

For a fixed integer \(t \ge 3\), let \(\kappa_t(v)\) denote the number of copies of \(K_t\) containing a vertex \(v\). We prove that for every \(t \ge 6\) and every sufficiently large even integer \(r\), there exists an explicit connected \(r\)-regular graph on \(2r+2\) vertices...

Core Label Orders of the Lattices W(m,n)

We determine the core label orders of the lattices W(m,n). Although these orders cease to be join-semilattices when m ≥ 2 and n > 0, every interval admits an explicit product decomposition into a Boolean lattice and one-letter shuffle lattices. The decomposition follows from a te...

Core Label Orders of the Lattices W(m,n)

We determine the core label orders of the lattices W(m,n). Although these orders cease to be join-semilattices when m ≥ 2 and n > 0, every interval admits an explicit product decomposition into a Boolean lattice and one-letter shuffle lattices. The decomposition follows from a te...

Public Charging Infrastructure Deployment and Credit Risk of Rural Commercial Banks in China: Evidence from Sustainable Mobility Infrastructure

This study examines the relationship between public electric-vehicle charging-infrastructure deployment and the credit risk of rural commercial banks in China. Using an unbalanced panel dataset of 180 RCBs across 10 provinces from 2016 to 2022, this paper employs a two-way fixed-...

Climate Risk and Firms' Shadow Relocation: Evidence From China

ABSTRACT Using recruitment big data matched to Chinese listed firms and their subsidiaries, covering 26,439 firm‐year observations from 2014 to 2023, we find that parent firms exposed to higher climate risk rarely relocate their registered locations. Instead, they reallocate empl...

High lexical construal levels decrease negativity bias in online reading: evidence from recognition and eye-tracking experiments

Negativity bias in online reading widely occurs and leads to harmful results at the individual and social levels, but few studies have examined how to reduce this bias from the perspective of lexical processing. This study examined whether and how high lexical construal levels de...

Assessing the contribution of nuclear energy to the ecological footprint in China: the role of natural resource consumption and agricultural productivity dynamics

China’s rapidly expanding ecological footprint poses a critical threat to environmental sustainability. Yet the combined roles of natural resource use, nuclear energy, and agricultural inputs in driving this footprint remain insufficiently explored within a unified analytical fra...

Equal or Fair: Impacts of Export on Relative Wage Distortion in China

ABSTRACT This paper studies the relative wage distortion and income inequality between high and low‐skilled workers, comparing exporters and non‐exporters in China. We develop a model featuring heterogeneity in firm productivity, worker skills, and firms' export decisions. By est...

Spurious State Dependence, True State Dependence and the Fear of Floating

ABSTRACT To better understand the Fear of Floating phenomenon in exchange rate regime evolution, this paper advances the method to identify state dependence and establishes four new findings and explanations. First, the introduction of state dependence into multinomial discrete c...

Accounting Digital Talent Demand and Financial Reporting Quality: Evidence from Job Posting

This study examines whether digital skills demanded within the accounting function are associated with financial reporting quality. Using online job postings for listed firms from 2014 to 2022, I construct a firm-year proxy for accounting digital talent demand by identifying acco...

Government Policy, Low‐ and High‐Skilled Labour, and Technical Inefficiency in Chinese Agriculture, 1952–2008

ABSTRACT We utilize Chinese provincial data to explore how government policies affected grain production between 1952 and 2008. We adapt the Caselli‐Coleman framework to allow multiple inputs including fertilizer, land and capital as well as skilled and unskilled labour. We also...