Shanghai Lixin University of Accounting and Finance

Birds of a feather? Local gambling preferences and corporate debt maturity in China

Although debt maturity is central to firms’ operations, how informal institutions such as local gambling preferences shape it remains unclear. Using a sample of A-share listed firms from 2008 to 2023, this paper explores whether and how local gambling preferences shape corporate...

Confronting Biodiversity Risk: Its Role in Shaping Corporate External Financing Choice

ABSTRACT This paper investigates how biodiversity risk shapes corporate financing decisions. We propose a Financing Hierarchy Distortion framework, arguing that biodiversity risk amplifies information asymmetry and legitimacy costs, thereby pushing firms toward debt‐heavy adjustm...

Efficient estimation in a semiparametric longitudinal data model with unknown time-varying AR error structure

We explore a time-dependent auto-regressive error structure to model the within-subject dependence among longitudinal observations in partially linear varying coefficient model, where the auto-regressive order is completely unspecified. We propose a two-stage unified least square...

Multidimensional climate exposure and corporate green innovation

Climate exposure takes different forms, and its relationship with green innovation may be obscured by aggregate measures. Using MD&A disclosures from firms listed in Shanghai and Shenzhen between 2003 and 2023, we construct annual measures of physical, regulatory, and opportunity...

Zealots lower coordination barriers but undermine cooperation in multiplayer games

Abstract How can a small group of committed cooperators shape collective outcomes in social dilemmas? Previous studies have shown that zealots—individuals who always cooperate—can promote cooperation in prisoner's dilemmas. Yet real-world cooperation also involves multiplayer coo...

A deep learning-based video forensic and intelligence analysis system for Skynet–Mizong surveillance

Abstract To address the challenges of cross-domain target association, identity drift, and temporal inconsistencies in multi-camera video surveillance scenarios, this paper proposes a deep learning-based “Skynet-Tracking” video investigation and analysis system. This system unifi...