Unleashing the Power of Multi-Agent Reinforcement Learning for Algorithmic Trading in the Digital Financial Frontier and Enterprise Information Systems

In the rapidly evolving landscape of today’s digital economy,Financial Technology(Fintech)emerges as a trans-formative force,propelled by the dynamic synergy between Artificial Intelligence(AI)and Algorithmic Trading.Our in-depth investigation delves into the intricacies of merging Multi-Agent Reinforcement Learning(MARL)and Explainable AI(XAI)within Fintech,aiming to refine Algorithmic Trading strategies.Through meticulous examination,we uncover the nuanced interactions of AI-driven agents as they collaborate and compete within the financial realm,employing sophisticated deep learning techniques to enhance the clarity and adaptability of trading decisions.These AI-infused Fintech platforms harness collective intelligence to unearth trends,mitigate risks,and provide tailored financial guidance,fostering benefits for individuals and enterprises navigating the digital landscape.Our research holds the potential to revolutionize finance,opening doors to fresh avenues for investment and asset management in the digital age.Additionally,our statistical evaluation yields encouraging results,with metrics such as Accuracy=0.85,Precision=0.88,and F1 Score=0.86,reaffirming the efficacy of our approach within Fintech and emphasizing its reliability and innovative prowess.

Return to work in young and middle-aged colorectal cancer survivors:Factors influencing self-efficacy,fear,resilience,and financial toxicity

BACKGROUND Return to work(RTW)serves as an indication for young and middle-aged colorectal cancer(CRC)survivors to resume their normal social lives.However,these survivors encounter significant challenges during their RTW process.Hence,scientific research is necessary to explore the barriers and facilitating factors of returning to work for young and middle-aged CRC survivors.AIM To examine the current RTW status among young and middle-aged CRC survivors and to analyze the impact of RTW self-efficacy(RTW-SE),fear of progression(FoP),eHealth literacy(eHL),family resilience(FR),and financial toxicity(FT)on their RTW outcomes.METHODS A cross-sectional investigation was adopted in this study.From September 2022 to February 2023,a total of 209 participants were recruited through a convenience sampling method from the gastrointestinal surgery department of a class A tertiary hospital in Chongqing.The investigation utilized a general information questionnaire alongside scales assessing RTW-SE,FoP,eHL,FR,and FT.To analyze the factors that influence RTW outcomes among young and middle-aged CRC survivors,Cox regression modeling and Kaplan-Meier survival analysis were used.RESULTS A total of 43.54%of the participants successfully returned to work,with an average RTW time of 100 days.Cox regression univariate analysis revealed that RTW-SE,FoP,eHL,FR,and FT were significantly different between the non-RTW and RTW groups(P<0.05).Furthermore,Cox regression multivariate analysis identified per capita family monthly income,job type,RTW-SE,and FR as independent influencing factors for RTW(P<0.05).CONCLUSION The RTW rate requires further improvement.Elevated levels of RTW-SE and FR were found to significantly increase RTW among young and middle-aged CRC survivors.Health professionals should focus on modifiable factors,such as RTW-SE and FR,to design targeted RTW support programs,thereby facilitating their timely reintegration into mainstream society.

Influences of Financial Development and Energy Price on Renewable Energy:An Italian Case

Global climate change has created substantial difficulties in the areas of sustainability,development,and environmental conservation due to the widespread dependence on fossil fuels for energy production.Nevertheless,the promotion of renewable energy programs has the potential to significantly expedite endeavors aimed at tackling climate change.Thus,it is essential to conduct a thorough analysis that considers the financial aspects to fully understand the main hurdles that are preventing the advancement of renewable energy initiatives.Italy is a leading country in the worldwide deployment of renewable energy.The objective of this research is to assess the impact of financial growth,economic progress,and energy expenses on Italy’s adoption of renewable energy sources.By employing the Auto-Regressive Distributed Lag(ARDL)technique,we analyzed annual data spanning from1990 to 2022.Findings revealed that a 1%increase in financial and economic development would boost renewable energy consumption in the long run by 0.29%and 0.48%,respectively.Instead,a 1%increase in energy prices might reduce consumption of renewable energy by 0.05%in the long run.This study’s primary significance lies in furnishing actionable strategies for Italy to augment green finance for renewable energy,fostering sustained social and economic progress.Moreover,the analytical insights gleaned from this research offer valuable insights for energy-importing nations worldwide.

Unsupervised Meteorological Downscaling Based on Dual Learning and Subgrid-scale Auxiliary Information

Climate downscaling is used to transform large-scale meteorological data into small-scale data with enhanced detail,which finds wide applications in climate modeling,numerical weather forecasting,and renewable energy.Although deeplearning-based downscaling methods effectively capture the complex nonlinear mapping between meteorological data of varying scales,the supervised deep-learning-based downscaling methods suffer from insufficient high-resolution data in practice,and unsupervised methods struggle with accurately inferring small-scale specifics from limited large-scale inputs due to small-scale uncertainty.This article presents DualDS,a dual-learning framework utilizing a Generative Adversarial Network–based neural network and subgrid-scale auxiliary information for climate downscaling.Such a learning method is unified in a two-stream framework through up-and downsamplers,where the downsampler is used to simulate the information loss process during the upscaling,and the upsampler is used to reconstruct lost details and correct errors incurred during the upscaling.This dual learning strategy can eliminate the dependence on high-resolution ground truth data in the training process and refine the downscaling results by constraining the mapping process.Experimental findings demonstrate that DualDS is comparable to several state-of-the-art deep learning downscaling approaches,both qualitatively and quantitatively.Specifically,for a single surface-temperature data downscaling task,our method is comparable with other unsupervised algorithms with the same dataset,and we can achieve a 0.469 dB higher peak signal-to-noise ratio,0.017 higher structural similarity,0.08 lower RMSE,and the best correlation coefficient.In summary,this paper presents a novel approach to addressing small-scale uncertainty issues in unsupervised downscaling processes.

Digital Economy and Corporate Innovation-Washing--An Empirical Study on How Information Mitigates Policy Distortion

As stated in the Report to the 20th National Congress of the Communist Party of China(CPC),innovation remains at the heart of China’s modernization drive,and it is vital to optimize the allocation of innovation resources,deepen structural scientific and technological reforms,and enhance the overall performance of China’s innovation system.Government incentives have boosted firm R&D and innovation efforts;however,they have also triggered an innovation dilemma where enterprises,capitalizing on their informational advantages,resort to innovation-washing behaviors that undermine the intended purpose of the policies.Based on the information asymmetry theory,this paper conducts an empirical study on how the digital economy affects firms’innovation-washing behavior.The development of the regional digital economy could suppress firm innovation-washing behavior in the region,and such a mitigation effect is primarily caused by an increase in the number of digital industry professionals.According to our heterogeneity analysis,the digital economy has a greater impact on firm innovation-washing behavior for certain types of enterprises,including non-state-owned enterprises(non-SOEs),small and medium-sized enterprises(SMEs),enterprises in less competitive industries,and enterprises in unfavorable business environments.Our mechanism analysis revealed that the digital economy may restrain innovation-washing behavior by reducing information asymmetry between enterprises and external stakeholders.In terms of economic outcomes,the digital economy has the potential to directly influence firm innovation output while also indirectly mitigating the subsequent decline in innovation output by discouraging innovation-washing.This paper enriches the research findings on how the digital economy breaks down“information silos”and offers a potential solution to the“emphasis on input and quantity over quality and efficiency”phenomenon in science and technology innovation practices.

Roles of Financial Innovation and Information Technology:Lessons from US Sub-prime Mortgage Crisis and Its Implications for China

The mortgage loan has evolved from a local lending instrument into a major global security and its role is unparallel to other financial instruments in the process of financial globalization. This paper explains how technology and financial innovation transformed the mortgage loan from a local security into a premier global security traded worldwide. It examines the fundamental flaws of this process and why it does not work in regards to mortgage lending and the re-securitization products that were created through financial innovation. The findings show that regulation was unable to keep pace with financial innovation, which created an environment where actors in the financial service sector were able to behave geographically irresponsibly by using information asymmetries to their advantage by par- ticipating in moral hazard activities and engaging in other immoral and unethical business practices that were centered around localized geography, which ultimately contributed to the global financial crisis. It also examines the roll of financial innovation in regard to the Lehman Brothers Mini-Bond in Hung and its role as a driving force behind China＇s newly emerging shadow banking sector. It concludes with a policy recommendation and its implication for China＇s continued economic development.

Financial Statements of Banks as a Source of Information About Implementation of IFRS 15： The Evidence from Poland

Banks in the economies of individual countries play the role of entities of public trust and are perceived as ＂too big to fail＂. In fact, they are exposed to risks associated with business operations. In practice, there are even instances of banks going bankrupt. Therefore, the reliability of the financial statements of a bank as a source of information about its financial condition is of particular importance. The main objective of creating IAS/IFRS and their implementation within the European Union is the strive to standardize accounting rules utilized by companies and other organizations. IFRS, as any other regulations, are subject to change over years. One of the recent changes is the introduction of IFRS 15 ＂Revenue from Contracts with Customers＂. In all entities using IAS/IFRS, communication of planned changes should involve disclosure ahead of time, regarding the analysis of their impact on the financial statements. The purpose of this paper has been to analyze whether the financial statements of banks contain any records on the impact of IFRS 15. These analyses are within the mainstream of studying how complete and prospective is the information contained in the financial statements for external users. The subjects for research are the consolidated financial statements of five major banks in Poland. As a result of research, it was found that in all studied cases, work on the implementation of IFRS 15 was observed. However, looking at every bank separately, a differentiated approach to presenting information on the standard is observed, which may be a hindrance for users of banks＇ financial statements.

Analysis on Development of Rural Financial Management Informationization

With the constant development of China's economy,rural financial management information gradually plays a major role in China's economic development. This paper mainly studied related management information of accounting information system and main characteristics of rural management. On the basis of analysis,it came up with pertinent recommendations,including improving software for financial informationization,improving the quality of rural financial personnel,strengthening government support for rural financial management informationization,and enhancing popularization of accounting computerized software.

The Influence of Spiritual Values on Work Motivation, Management Control, and Quality of Financial Information on IFIs in Indonesia

This study aims to investigate the influence of spiritual values on work motivation, management control, and the quality of financial information on Islamic financial institutions （IFIs） in Indonesia. Spiritual values are measured using four reflexive indicators, namely, Shiddiq, Fathanah, Amanah, and Tabligh. Work motivation is formed by four formative indicators, namely, compensation, recognition, work experience, and openness. Management control variable is formed by four formative indicators, namely, planning, implementing, evaluating, and monitoring, and finally, the quality of financial information is manifested in four reflexive variables, namely, relevant, comparable, understandable, and consistent. Data are collected through questionnaires with 125 respondents as samples from three types of IFIs, such as Islamic banking, Islamic pawnshop, and Islamic insurance in Indonesia. Methods of data analysis include the use of partial least squares （PLS） to analyze the influence of spiritual values on work motivation, management control, and quality of financial information. The results of this study showed that the manifestation of spiritual values in IFIs is able to influence the quality of financial information through the media as motivation and management control, but directly spiritual values are not able to influence the quality of financial information. While work motivation and management control significantly influence the quality of financial information.

Research on Corporate Governance-based Problem of Financial Accounting Information

This article makes a detailed analysis of the relationship between corporate governance and financial accounting information under the framework of corporate governance, with the help of the principles of information economics and institutional economics. By taking into considerations of the agency issues arising form the separation of the managers from the owners under the modem corporate environment in order to solve agency conflict and to realize right restricting and benefit grouping. The mechanism of financial accounting information produced internally from the mechanism of corporate governance. Based on this understanding, this article discusses how financial accounting information works in both internal and external corporate governance mechanism. And explores the application mechanism of financial accounting information associating with stock price and introduces the function of corporate governance to guarantee the quality of accounting information respectively, respectively paying particular emphasis on the two goals of financial accounting-the decision useful and the accountability approach.

Research on Industrial Relevance Degree and Industrial Financial Situation Risk Matrix Construction——Based on Chinese Information Technology Industry

Based on Input-Output Table in 2010 issued by National Bureau of Statistics of China, with the help of input-output model and with the calculation of indexes of industrial relevance degree in Chinese information technology industry, the paper reveals the industrial relevance in Chinese information technology industry. The paper also selects the relevant industries which are highly associated with the development of Chinese information technology industry based on industrial relevance degree to analyze the influences of these industries on the financial situation risk fluctuation in information technology industry and to design the matrix of financial situation risk in information technology industry. Then, the paper offers countermeasures and suggestions for the development of our information technology industry.

The information content of financial survey response data

Market data for financial studies typically derives from either historical transactions or contemporaneous surveys of sentiment and perceptions.The research communities analyzing data from these opposing categories of source data see themselves as distinct,with advantages not shared by the other.This research investigates these latter claims in an information theoretic context,and suggests where methods and controls can be improved.The current research develops a Fisher Information metric for Likert scales,and explores the effect of particular survey design decisions or results on the information content.A Fisher Information metric outperforms earlier metrics by converging reliably to values that are intuitive in the sense that they suggest that information captured from subjects is fairly stable.The results of the analysis suggest that varying bias and response dispersion inherent in specific surveys may require increases of sample size by several orders of magnitude to compensate for information loss and in order to derive valid conclusions at a given significance and power of tests.A prioritization of quality of design,and the factors relevant to survey design are presented in the conclusions,and illustrative examples provide insight and guidance to the assessment of information content in a survey.

At what levels of financial development does information sharing matter?

Background:The purpose of this study is to investigate how an increase in information-sharing bureaus affects financial access.Methods:We employed contemporary and non-contemporary interactive quantile regressions in 53 African countries for the period 2004–2011.Information-sharing bureaus are proxied with public credit registries and private credit offices.Financial development dynamics involving depth(at overall economic and financial system levels),efficiency(at banking and financial system levels),activity(from banking and financial system perspectives),and size are used.Results:Two key findings are established.First,the effect of an increase in private credit bureaus is not clearly noticeable on financial access,probably because private credit agencies are still to be established in many countries.Second,an increase in public credit registries for the most part improves financial allocation efficiency and activity(or credit)between the 25th and 75th quartiles.Conclusions:As a main policy implication,countries in the top and bottom ends of the financial efficiency and activity distributions are unlikely to benefit from enhanced financial allocation efficiency as a result of an increase in public credit registries.

Evaluating the Provision of Information in the Financial Statements of Enterprises： Empirical Evidence From Vietnam

Globalization trend has raised demand for establishing a consistent legal framework internationally. Vietnam has been establishing gradually a consistem legal framework according to countries in the world for improving information in financial statements of enterprises. Timely, the Ministry of Finance has made a great effort to publish the draft to correct and adjust accounting laws, accounting standards, and accounting systems to improve and enhance the quality of accounting information. However, based on the result of experiment survey including auditors, chief accountants, and investors, the information in the financial statements provided by Vietnamese enterprises has some shortcomings. The information provided by organizations has not satisfied the demand of users to make useful decisions. Ideally, Vietnam needs to have certain improvements in overall by state, enterprises, and occupation organizations to provide information with high quality and accuracy. This in turn will be crucial for Vietnam in international accounting integration progress.

The Link Between Internet Financial Reporting and Information Asymmetry for American Depository Receipts

We provide evidence on the effect of the presentation format and information content of Internet financial reporting on the market value of American Depository Receipts and on country-specific variables that drive Internet financial reporting. A two-stage Heckman approach was used to determine if Internet financial reporting adds incremental value to firms beyond the decision to cross-list in the United States. The results indicate that investors more highly value firms that provide information in multiple formats. We also find that country-specific variables affect the information content, but not the presentation format of disclosures on corporate websites. The results uncover a disconnection between what the market values （presentation format） and what the firms believe the market values （information content）. This implies that firms are not entirely aware of investors＇ information wants and that they are not utilizing their resources in the manner that will have the most impact on their market value.

The Information Risk in the Latest Crisis： A Driver or a Driven Factor for Global Financial Markets Equilibrium？

The latest financial crisis has been impressive for strength, impact, duration, and reduced efficacy of the economic and financial policies adopted by the authorities. We use an original information risk model to contribute to the analysis of the crisis and to suggest some approaches for a possible early diagnosis. Using data referred to the three main financial markets and comparing the latest crisis with the previous one and with long-term quantitative evidence, we find out that the 2007-2009 crisis was very different in the information risk quality. That gap affected the market risk aversion and its equilibrium, reducing the efficacy of the authorities＇ intervention tools mainly based on payoff risk control and efficient market restoration. Since information risk is an endogenous element of the market dynamics that can be independent form contingent levels of market efficiency. Drivers of information risk in the European Markets differed strongly from the US and Japanese ones; that is why some global decisions had low impact while opportunities of local intervention were missed.

Information on Financial Statements for Loan Decision-Making of Commercial Banks in Vietnam

Financial statements （FS） are tools which provide information to users for making business decisions. Among the organizations, banks are the firms which conducted and did business with risks. In particular, commercial banks continue to play a dominant role in the whole system, and local commercial banks still have an edge in its widespread network across the country over foreign banks. This article is going to present the survey which clarifies the role of FS in commercial banks＇ loan decisions in Vietnam. Moreover, this paper also discusses FS＇s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities. This paper has taken performance with 74 official employees in commercial banks in Vietnam. The results indicated the qualitative characteristics of banks when disclosing the financial statements. This article also gave the six oriented solutions to improvement of the loan decision-making by banks.

Information technology research and situation of corporate development financial management

to actively promote corporate financial management information technology is not only to explore effective ways to centralized management of enterprise funds, but also in strengthening corporate governance, deepening of enterprise reform. Standardizing the process of establishing a modern enterprise system is an important work. Especially with the deepening of the reform of state-owned enterprises and China＇ s accession to the WTO, and actively promoting financial management information technology, they not only help to strengthen internal financial management and financial monitoring. Thereby it can improve capital efficiency and achieve risk control, but also it has a very important practical significance and far-reaching strategic significance in enhancing the core competitiveness of Chinese enterprises to actively participate in international competition. This paper analyses the financial management of the enterprise information technology problems and also come up to speed up strategies of the corporate financial management information technology.

Influence of initial check, information exchange, final accuracy check, reaction information nursing on the psychology of elderly with lung cancer

BACKGROUND As one of the fatal diseases with high incidence,lung cancer has seriously endangered public health and safety.Elderly patients usually have poor self-care and are more likely to show a series of psychological problems.AIM To investigate the effectiveness of the initial check,information exchange,final accuracy check,reaction(IIFAR)information care model on the mental health status of elderly patients with lung cancer.METHODS This study is a single-centre study.We randomly recruited 60 elderly patients with lung cancer who attended our hospital from January 2021 to January 2022.These elderly patients with lung cancer were randomly divided into two groups,with the control group taking the conventional propaganda and education and the observation group taking the IIFAR information care model based on the conventional care protocol.The differences in psychological distress,anxiety and depression,life quality,fatigue,and the locus of control in psychology were compared between these two groups,and the causes of psychological distress were analyzed.RESULTS After the intervention,Distress Thermometer,Hospital Anxiety and Depression Scale(HADS)for anxiety and the HADS for depression,Revised Piper’s Fatigue Scale,and Chance Health Locus of Control scores were lower in the observation group compared to the pre-intervention period in the same group and were significantly lower in the observation group compared to those of the control group(P<0.05).After the intervention,Quality of Life Questionnaire Core 30(QLQ-C30),Internal Health Locus of Control,and Powerful Others Health Locus of Control scores were significantly higher in the observation and the control groups compared to the pre-intervention period in their same group,and QLQ-C30 scores were significantly higher in the observation group compared to those of the control group(P<0.05).CONCLUSION The IIFAR information care model can help elderly patients with lung cancer by reducing their anxiety and depression,psychological distress,and fatigue,improving their tendencies on the locus of control in psychology,and enhancing their life qualities.

Attribute Reduction of Hybrid Decision Information Systems Based on Fuzzy Conditional Information Entropy

The presence of numerous uncertainties in hybrid decision information systems(HDISs)renders attribute reduction a formidable task.Currently available attribute reduction algorithms,including those based on Pawlak attribute importance,Skowron discernibility matrix,and information entropy,struggle to effectively manages multiple uncertainties simultaneously in HDISs like the precise measurement of disparities between nominal attribute values,and attributes with fuzzy boundaries and abnormal values.In order to address the aforementioned issues,this paper delves into the study of attribute reduction withinHDISs.First of all,a novel metric based on the decision attribute is introduced to solve the problem of accurately measuring the differences between nominal attribute values.The newly introduced distance metric has been christened the supervised distance that can effectively quantify the differences between the nominal attribute values.Then,based on the newly developed metric,a novel fuzzy relationship is defined from the perspective of“feedback on parity of attribute values to attribute sets”.This new fuzzy relationship serves as a valuable tool in addressing the challenges posed by abnormal attribute values.Furthermore,leveraging the newly introduced fuzzy relationship,the fuzzy conditional information entropy is defined as a solution to the challenges posed by fuzzy attributes.It effectively quantifies the uncertainty associated with fuzzy attribute values,thereby providing a robust framework for handling fuzzy information in hybrid information systems.Finally,an algorithm for attribute reduction utilizing the fuzzy conditional information entropy is presented.The experimental results on 12 datasets show that the average reduction rate of our algorithm reaches 84.04%,and the classification accuracy is improved by 3.91%compared to the original dataset,and by an average of 11.25%compared to the other 9 state-of-the-art reduction algorithms.The comprehensive analysis of these research results clearly indicates that our algorithm is highly effective in managing the intricate uncertainties inherent in hybrid data.