Discreet investors exert greater influence on cooperation in the public goods game

This paper studies the evolutionary process of cooperative behavior in a public goods game model with heterogeneous investment strategies in square lattices.In the proposed model,players are divided into defectors,cooperators and discreet investors.Among these,defectors do not participate in investing,discreet investors make heterogeneous investments based on the investment behavior and cooperation value of their neighbors,and cooperators invest equally in each neighbor.In real life,heterogeneous investment is often accompanied by time or economic costs.The discreet investors in this paper pay a certain price to obtain their neighbors'investment behavior and cooperation value,which quantifies the time and economic costs of the heterogeneous investment process.The results of Monte Carlo simulation experiments in this study show that discreet investors can effectively resist the invasion of the defectors,form a stable cooperative group and expand the cooperative advantage in evolution.However,when discreet investors pay too high a price,they lose their strategic advantage.The results in this paper help us understand the role of heterogeneous investment in promoting and maintaining human social cooperation.

Augmented Appeal China is doubling down on attracting foreign investors through broader market access and improved business environment

Attracting foreign capital is a key pillar of China’s reform and opening up policy,and foreign-funded enterprises are an important component of China’s economy.Currently,China is taking steps to further boost its attractiveness as a foreign direct investment(FDI)destination in order to seek more foreign capital.

Inspired by Innovation China’s hi-tech achievements add to its appeal for foreign investors

China’s focus on nurturing new quality productive forces while promoting high-quality development provides foreign investors with enormous market opportunities and vast development prospects,amid rising uncertainties in the global economic landscape.In a series of recent engagements with China,foreign investors,including British businesses,have expressed confidence in the future prospects of the market.

Effects of hormone replacement therapy on mood and sleep quality in menopausal women

BACKGROUND Hormone replacement therapy is an effective treatment strategy for the management of symptoms in naturally menopausal women.However,some patients report experiencing adverse effects.AIM To analyze the effects of hormone replacement therapy in menopausal female patients.METHODS A total of 152 menopausal female patients admitted to the Gynecology Department of the Ganzhou Maternal and Child Health Hospital between January 2021 and December 2023 were divided into the observation group(n=76,conventional treatment+hormone replacement therapy)and the control group(n=76,conventional treatment only)via random casting.The improvement observed in the following items were compared between the groups:Kupperman menopausal index(KMI),emotional state[The Positive and Negative Affect Scale(PANAS)],sleep quality[Self-Rating Scale of Sleep(SRSS)],treatment effectiveness,and treatment safety.RESULTS The modified KMI and SRSS scores of the observation group were lower than those of the control group after three rounds of treatment.The improvement in the PANAS score observed in the observation group was greater than that observed in the control group(P<0.05).The total treatment effectivity rate in the observation group was higher than that in the control group(86.84%vs 96.05%,χ2=4.121,P=0.042).The incidence rate of adverse reactions in the two groups was comparable(6.58%vs 9.21%,χ2=0.361,P=0.547).CONCLUSION Hormone replacement therapy effectively improved the clinical symptoms,actively channeled negative emotions,and improved the quality of sleep in menopausal patients,indicating its effectiveness and safety.

The effect of overseas investors on local market efficiency:evidence from the Shanghai/Shenzhen–Hong Kong Stock Connect

Using a recent stock market liberalization reform policy in China—the Stock Connect—as a quasi-natural experiment,this study examines the effect of stock market liberalization on market efficiency.Employing a dataset of 17,086 Chinese listed firms covering 2009 to 2018,we find that stock market liberalization improves the market efficiency of the Chinese mainland stock market.We further explore the potential channels through which the Stock Connect can enhance the efficiency of the A-share(A-shares refer to shares issued by Chinese companies incorporated in China's Mainland,traded in the Shanghai Stock Exchange and the Shenzhen Stock Exchange.They are denominated in Chinese RMB(the local currency).A-shares were restricted to local Chinese investors before 2003,are open to foreign investors via the Qualified Foreign Institutional Investor,RMB Qualified Foreign Institutional Investor,or the Stock Connect programs.)market.The findings show that liberalizing capital markets could benefit local market efficiency by increasing stock price informational efficiency and improving corporate governance quality.The additional analysis shows that stock market liberalization has a significant and positive impact on local market efficiency,enhancing firm value and reducing stock crash risk.We conduct various robustness checks to corroborate our findings.This study provides important policy implications for emerging countries liberalizing capital markets for foreign investors.

Vividly Colored Accessories and Mood Changes in Patients Undergoing Breast Surgery

Few studies have examined the impacts of color stimuli on perioperative mood and quality of recovery;thus, this randomized controlled trial aimed to assess impacts of vividly colored accessories on mood and quality of recovery after breast surgery. This single-center, single-blind randomized controlled trial included 36 participants (all aged ≥ 20 years) who were randomized into intervention (n = 19) and control groups (n = 17). The intervention group received vividly colored accessories. The primary and secondary study outcomes were patient mood, evaluated using a two-dimensional mood scale, and postoperative recovery, evaluated using Quality of Recovery-15, which were assessed on postoperative day 3. There were no statistical intergroup differences in the scores of the Two-Dimensional Mood Scale (11.2 [intervention group] vs. 10.4 [control group], P = 0.75) and Quality of Recovery-15 (126.8 [intervention group] vs. 129.3 [control group], P = 0.73). Thus, the use of vividly colored accessories by patients undergoing breast surgery was not found to affect patients’ mood and quality of recovery.

Hormone replacement therapy for menopausal mood swings and sleep quality:The current evidence

Marked alterations in the normal female hormonal milieu in the perimenopausal period significantly affect women’s health,leading to decreased well-being,psychological distress,and impaired quality of life.Common menopausal symp-toms include hot flashes,sleep and mood changes,fatigue,weight gain,and urogenital disturbances.Clinicians often neglect mood swings and disrupted sleep,although those can significantly limit the productivity of women and impair their cognitive function and mental health.Evidence-based management should include a personalized,holistic approach to alleviate symptoms and careful consideration of the risks vs benefits of hormone replacement therapy(HRT),with due consideration of personal preferences.A research paper in the recent issue of the World Journal of Psychiatry by Liu et al investigated the role of HRT in altering mood changes and impaired sleep quality in menopausal women,which helps us to understand the benefits of this treatment approach.

Research status of hormone replacement therapy on mood and sleep quality in menopausal women

Menopausal syndrome is a common disease of clinical women,which refers to a series of physical and mental symptoms caused by the fluctuation or reduction of sex hormones before and after menopause.Many of these patients have sleep and mood abnormalities that affect their health and quality of life.At present,the understanding of it is gradually improving.This paper mainly analyzes its back-ground and current treatment.

Color Expression and Mood Creation in Imagery Oil Painting

Oil painting is a traditional Western painting form.With the introduction of China and the influence of China’s traditional painting and aesthetics,the painting style became more distinctive,expanding a new development direction of oil painting,and thus imagery oil painting came into being.Color,as the most important element in imagery oil painting,mainly plays the role of mood creation and emotional expression.Many creators are good at injecting their thoughts and emotions into the paintings through color matching,so as to enhance the artistic expression of the paintings.This paper analyzes the color expression characteristics of imagery oil painting and explores the color expression techniques in imagery oil painting and mood creation of imagery oil painting from several aspects.

A Study on the Mental Space of Subjunctive Mood

Cognitive linguistics offers a novel approach to studying and elucidating language phenomena,with the theory of mental spaces being particularly adept at interpreting many“non-canonical”linguistic occurrences and providing a fresh cognitive framework.The subjunctive mood,one of the three primary moods in English,is integral to English grammar.Yet,it remains a contentious topic within the field,with a lack of consensus among different linguistic schools regarding this significant grammatical category.The substantial role of human cognition in the construction and interpretation of the subjunctive mood’s meaning has been infrequently explored.This paper,from a cognitive perspective,employs the theory of mental spaces to discuss the English subjunctive mood,addressing the questions of its theoretical foundation,the reasons for its use,and the methods of its application.

《The influence of institutional investors on myopic R&D investment behavior》述评

机构投资者作为证券市场中的重要力量,越来越受到理论界和实务界的关注。论文对宾夕法尼亚大学沃顿商学院会计学教授布赖恩-布希(Brian Bushee)的论文"The influence of institutional investors on myopic R&D investment behavior"(机构投资者对企业短视研发投资行为的影响,以下简称Bushee(1998))进行评价并提出相关的建议和研究方向。

The chaotic behavior among the oil prices, expectation of investors and stock returns: TAR-TR-GARCH copula and TAR-TR-TGARCH copula

This paper has two aims. The first one is to investigate the existence of chaotic structures in the oil prices, expectations of investors and stock returns by combining the Lyapunov exponent and Kolmogorov entropy, and the second one is to analyze the dependence behavior of oil prices, expectations of investors and stock returns from January 02, 1990, to June06, 2017. Lyapunov exponents and Kolmogorov entropy determined that the oil price and the stock return series exhibited chaotic behavior. TAR-TR-GARCH and TAR-TR-TGARCH copula methods were applied to study the co-movement among the selected variables. The results showed significant evidence of nonlinear tail dependence between the volatility of the oil prices, the expectations of investors and the stock returns. Further, upper and lower tail dependence and comovement between the analyzed series could not be rejected. Moreover, the TAR-TR-GARCH and TAR-TR-TGARCH copula methods revealed that the volatility of oil price had crucial effects on the stock returns and on the expectations of investors in the long run.

Realizing profits immediately:disposition effect of open-end fund investors in China

This paper explores the disposition effect, the tendency of investors to hold losing investments too long and sell winning investments too soon, by analyzing a unique data set that consists of the buying and selling positions of open-end fund investors in China. Results show that investors' buying and selling behaviors are significantly affected by fund performance. The reasons that lie behind such results are mainly related to the non-persistence of fund performance. When fund performance is non-persistent, investors are not clear about the future returns on funds. So, investors, especially individual investors, would have to realize the profits on hand immediately. Meanwhile, fund investors are highly sensitive to fund age and loading fees, but not sensitive to management fees charged by funds when they buy or sell fund shares.

＂Chinese Investors and Businesses Are Always Welcome in Armenia＂-- Exclusive Interview with Hrant Abajyan, the Trade Representative of the Armenian Embassy in China

＂I came to China for the first time in 2012 when I was doing my master＇s degree in Nanjing. The real China is full of all kinds of different things and is a good place for every kind of person.＂ When talking about his impression of China,

CCPIT Encourages More Chinese Investors to Go Abroad

The 8th Chinese Enterprises Outbound Investment Con-ference was held in Beijing by China Council of the Promo-tion of International Trade(CCPIT)from April 16th to 17th.The CCPIT has been organising the conference for eight years,to encourage more

Overreaction and Availability Bias: Analysis of Real Estate Sector’s Stock Prices and Investors’ Reaction during Demonetisation in India

The stock market is full of events that affect the sensitivity reaction of investors at a large scale. Individual investor sentiment is just like his/her personal feeling depending upon their nature, risk appetite, and market scenario. This research study investigates the investors’ reaction in the stock market for the real estate segment during the massive market crisis in developing countries. Demonetisation of 2016 in India has been taken with the purpose of implementing a pilot study to analyse the overreaction and availability bias. The primary focus was on analysing how the investors react on the information of demonetisation and their pattern of investment in the stock market with a special emphasis on real estate sector where the effect of the event had dramatically changed the stock prices. Therefore, a pre- and post- analysis had been conducted to gauge the prices, sensitivity, and reaction of investors in the stock market. The reaction of the citizens after these events was found to be drastically affected. Five real estate companies had been focused upon in this study to examine the impact of investors’ overreaction owing to the demonetisation and their investment pattern for stocks during pre- and post- demonetisation period at that timeframe. The analysis was done on a shorter period of time so that the impact of overreaction and availability bias can be critically analysed. The paper thus exhibits how investor sentiments and reaction for stock preference had changed over time through statistical study.

Foreign Investors Undeterred by Trade Frictions

THE ongoing China-U.S. trade frictions have raised foreign investors’ concerns over China’s macroeconomic prospects, possible restrictions on U.S. companies, and a damper on its business climate. However, numbers speak louder than words. In 2018, foreign direct investment (FDI) in China went up against the global investment outlook, refuting the rhetoric that foreign companies are pulling out of the Chinese market as the U.S. slaps tariffs on Chinese goods.

Fuyang Welcomes Investors From Abroad

Fuyang is located in the northwesternpart of Anhui Province,bordering theHuai River to the south and adjoiningCentral China to the north.With a populationof 13.33 million,the city covers and area of18,169 square km and has jurisdiction overseven counties and three districts.It is one ofthe largest cities in the country,with itspopulation,area of farmland and output ofgrains all accounting for one percent of thenation’s total respectively. The Beijing-Kowloon railway runsfor 192 km long through the city’s area.Oneof the country’s six largest hubs of rail traffic,the Fuyang railway hub boasts an array of244 parallel tracks laid in its marshallingyard with a daily handling capacity of morethan 10,000 trains and cars.Its

Factors Influencing Retail Investors＇ Attitude Towards Investing in Equity Stocks： A Study in Tamil Nadu

Research in behavioral finance is comparatively less in India, when compared to other foreign countries. Globalization of financial markets has been increasing the retail investors＇ community over the past two decades by providing a wide variety of market and investment options. However, it makes much more complex in their investment decisions process. This paper aims at identifying the factors influencing the retail investor＇s attitude. This paper develops a modified questionnaire. The average value of the five top highly influential factors according to the sample retail investors＇ were Investors＇ tolerance for risk, strength of the Indian economy, media focus on the stock market, political stability and finally government policy towards business. Four factors were given lowest priority or which had low influence on the attitude of the retail investors investing in equity stocks. Stories of successful investors was considered to be the lowest influencing factors among the four, get rich quick philosophy, information available on internet, cost cutting by companies.

Effect of Internet+continuous midwifery service model on psychological mood and pregnancy outcomes for women with highrisk pregnancies

BACKGROUND There are many drawbacks to the traditional midwifery service management model,which can no longer meet the needs of the new era.The Internet+continuous midwifery service management model extends maternal management from prenatal to postpartum,in-hospital to out-of-hospital,and offline to online,thereby improving maternal and infant outcomes.Applying the Internet+continuous midwifery service management model to manage women with highrisk pregnancies(HRP)can improve their psycho-emotional opinion and,in turn,minimize the risk of adverse maternal and/or fetal outcomes.AIM To explore the effectiveness of a midwife-led Internet+continuous midwifery service model for women with HRP.METHODS We retrospectively analyzed the clinical data of 439 women with HRP who underwent prenatal examination and delivered at Shanghai Sixth People's Hospital(affiliated to the Shanghai Jiao Tong University School of Medicine)from April to December 2022.Among them,239 pregnant women underwent routine obstetric management,and 200 pregnant women underwent Internet+continuous midwifery service mode management.We used the State-Trait Anxiety Inventory,Edinburgh Postnatal Depression Scale,and analysis of delivery outcomes to compare psychological mood and the incidence of adverse delivery outcomes between the two groups.RESULTS The data showed that in early pregnancy,the anxiety and depression levels of the two groups were similar;the levels gradually decreased as pregnancy progressed,and the decrease in the continuous group was more significant[31.00(29.00,34.00)vs 34.00(32.00,37.00),8.00(6.00,9.00)vs 12.00(10.00,13.00),P<0.05].The maternal self-efficacy level and strategy for weight gain management were better in the continuous group than in the traditional group,and the effective rate of midwifery service intervention in the continuous group was significantly higher than in the control group[267.50(242.25,284.75)vs 256.00(233.00,278.00),74.00(69.00,78.00)vs 71.00(63.00,78.00),P<0.05].The incidence of adverse delivery outcomes in pregnant women and newborns and fear of maternal childbirth were lower in the continuous group than in the traditional group,and nursing satisfaction was higher[10.50%vs 18.83%,8.50%vs 15.90%,24.00%vs 42.68%,89.50%vs 76.15%,P<0.05].CONCLUSION The Internet+continuous midwifery service model promotes innovation through integration and is of great significance for improving and promoting maternal and child health in HRP.