This study investigates the volatility risk premium on the emerging financial market. We also consider the expected return and ESG sentiment. Based on the SSE 50 ETF 5-minute high-frequency spots and daily options data from 2016 to 2021, we adopt nonparametric model-free approaches to calculate realized and implied volatilities. And the volatility risk premium is constructed by subtracting these volatility series. We examine the relations between the volatility risk premium and future excess returns as well as ESG sentiment through multifactor (...) specifications. We find that the volatility risk premium also exists in the Chinese market and is significantly negative. In addition, the statistically positive correlation between the volatility risk premium and aggregate returns is an outlier compared to the empirically negative pattern in developed markets. At last, ESG sentiment is positively associated with the volatility risk premium, especially the impact of environmental and social. This evidence supports the agency theory, which indicates that investors perceive ESG investments as waste resources in a short term and become potentially risky. (shrink)

A fundamental entity is an entity that is ‘ontologically independent’; it does not depend on anything else for its existence or essence. It seems to follow that a fundamental entity is ‘modally free’ in some sense. This assumption, that fundamentality entails modal freedom (or ‘FEMF’ as I shall label the thesis), is used in the service of other arguments in metaphysics. But as I will argue, the road from fundamentality to modal freedom is not so straightforward. The defender of FEMF (...) should provide positive reasons for believing it, especially in light of recent views that are incompatible with it. I examine both direct and indirect routes to FEMF. (shrink)

The direction and specificity of endolysosomal membrane trafficking is tightly regulated by various cytosolic and membrane‐bound factors, including soluble NSF attachment protein receptors (SNAREs), Rab GTPases, and phosphoinositides. Another trafficking regulatory factor is juxta‐organellar Ca2+, which is hypothesized to be released from the lumen of endolysosomes and to be present at higher concentrations near fusion/fission sites. The recent identification and characterization of several Ca2+ channel proteins from endolysosomal membranes has provided a unique opportunity to examine the roles of Ca2+ and (...) Ca2+ channels in the membrane trafficking of endolysosomes. SNAREs, Rab GTPases, and phosphoinositides have been reported to regulate plasma membrane ion channels, thereby suggesting that these trafficking regulators may also modulate endolysosomal dynamics by controlling Ca2+ flux across endolysosomal membranes. In this paper, we discuss the roles of phosphoinositides, Ca2+, and potential interactions between endolysosomal Ca2+ channels and phosphoinositides in endolysosomal dynamics. (shrink)

When we say “I know why he was late”, we know not only the fact that he was late, but also an explanation of this fact. We propose a logical framework of “knowing why” inspired by the existing formal studies on why-questions, scientific explanation, and justification logic. We introduce the Kyi\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$${{\mathcal {K}}{}\textit{y}}_i$$\end{document} operator into the language of epistemic logic to express “agent i knows why φ\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} (...) \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\varphi $$\end{document}” and propose a Kripke-style semantics of such expressions in terms of knowing an explanation of φ\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\varphi $$\end{document}. We obtain two sound and complete axiomatizations w.r.t. two different model classes depending on different assumptions about introspection. Finally we connect our logic with justification logic technically by providing an alternative semantics and an in-depth comparison on various design choices. (shrink)

There is no notion of postmortem Heaven and Hell in both ancient Israeli and Confucian traditions, and the two traditions also share quite a number of similarities about the idea of immortal life after death. Therefore, a comparison of the commonness in this field, e.g. the Jewish Levirate Marriage custom and the Confucian custom of adopting one’s son as heir; the idea of name surviving death in Biblical Judaism and that of glorifying one’s parents by making one’s name famous in (...) future ages in Confucianism, can help us reveal the common pursuit in the two traditions: the postmortem fulfillment of an individual is realized in the form of the continuation of one’s family/ tribe/ nation of which they were, and forever remain, a generational link. In addition, this can help clarify a long faulted Confucian dogma of “Having no male heir being the gravest of the three cardinal offences against filial piety”. (shrink)

Historical progress is a core belief of the Enlightenment and modernity, also a spiritual catalyst of human emancipation in the past centuries. However, due to the naive understanding of scholars and its misuse by political power, the idea of progress has fallen from a realistic political belief in the pursuit of liberty and democracy to a metaphysical faith and a one-sided ideology. Instead of abandoning the concept itself, this paper will provide a new version for progress. In this version, supported (...) theoretically with ideas from a Marxian critique of the paradox of progress in capitalist society and a Habermasian reconstruction of social evolution and progress, progress shall not be understood as an intrinsic trend of history itself, but a “historical-practical project” of humanity. The intent of rewriting progress is to transcend the dilemma between progressivism and catastrophism while at the same time preserving its positive meaning. (shrink)

In ancient China, astronomers attempted to correct mean geocentric longitude of the inner planets using planetary “Expansion–Contraction Difference” (yingsuo cha 盈縮差) to obtain the true geocentric longitude. They used the “Limit Degree” (xiandu 限度) as the independent variable for the “Expansion–Contraction Difference”. Although this idea was relatively ideal and operationally simple, the algorithm of the “Expansion–Contraction Difference” designed by ancient Chinese astronomers had significant flaws in terms of its actual computational effectiveness for calculating the position of the inner planets. The (...) reason for this flaw is that, based on its intended purpose, the “Expansion–Contraction Difference” should be a three-variable function, including the planetary equation of center, the solar equation of center and the phase angle of the planet, and each variable has different independent variables. However, ancient Chinese astronomers attempted to simplify this complex three-variable function into a single-variable function, and such simplification was unsuccessful. Further research indicates that the starting point of the expansion phase in the “Table of Expansion–Contraction Difference” (Yingsuo Li 盈縮曆) for the inner planets in ancient Chinese astronomical systems did not accurately depict the position of the planetary perihelion. Adjusting the starting point based on the longitude can improve the accuracy to some extent. Although the special coefficients of “double it for Venus, triple it for Mercury” can enhance the accuracy of calculations on the position of the inner planets, the result is not as ideal as expected. This study highlights that within the framework of ancient Chinese planetary theory, the algorithm of the “Expansion–Contraction Difference” for the inner planets possessed inherent and irreparable flaws, resulting in significant errors in the calculation of the apparent position of the inner planets. (shrink)

I propose to sketch my views on several aspects of the philosophy of mathematics that I take to be especially relevant to philosophy as a whole. The relevance of my discussion would, I think, become more evident, if the reader keeps in mind the function of (the philosophy of) mathematics in philosophy in providing us with more transparent aspects of general issues. I shall consider: (1) three familiar examples; (2) logic and our conceptual frame; (3) communal agreement and objective certainty; (...) (4) the transcommunal universality of mathematics; (5) the big jump to the potential infinite; (6) the reconciliation of local creation with the hypothesis of discovery; (7) Platonism as realism plus conceptualism; (8) foundational studies and mathematical practice; and (9) the decomposition of philosophical disagreements. The views of Gödel and Wittgenstein are emphasized in order to add specificity to the discussions. (shrink)

This study investigated the psychometric properties of an adapted Chinese version of Motivated Strategies for Learning Questionnaire using exploratory factor analysis and confirmatory factor...

Previous work has demonstrated that simple geometric shapes may convey emotional meaning using various experimental paradigms. However, whether affective meaning of simple geometric shapes can be automatically activated and influence the evaluations of subsequent stimulus is still unclear. Thus the present study employed an affective priming paradigm to investigate whether and how two geometric shapes (circle vs. downward triangle) impact on the affective processing of subsequently presented faces (Experiment 1) and words (Experiment 2). At behavioral level, no significant effect of (...) affective congruency was found. However, ERP results in Experiment 1 and 2 showed a typical effect of affective congruency. The LPP elicited by affectively incongruent trials was larger compared to congruent trials. Our results provide support for the notion that downward triangle is perceived as negative and circle as positive and their emotional meaning can be activated automatically and then exert an influence on the electrophysiological processing of subsequent stimuli. The lack of significant congruent effect in behavioral measures and the inversed N400 congruent effect might reveal that the affective meaning of geometric shapes is weak because they are just abstract threatening cues rather than real threat. In addition, because no male participants are included in the present study, our findings are limited to females. (shrink)

Some experimental philosophers criticize standard philosophical methodology on the basis of survey data reporting variation of intuition according to irrelevant factors like culture and order. I will refer to them as “experimentalists” and their critique as the “experimental critique.” Recently, a few philosophers (e.g., Williamson, Deutsch, and Cappelen) have responded by noting that the experimental critique relies on the “Centrality” assumption—the thesis that intuition plays a central evidential role in philosophical inquiry.1 They then deny the Centrality thesis and claim that, (...) therefore, intuition variation has no significant implications for philosophical methodology. In this paper, I defend Centrality in response to two recent objections: the “argument from non-neutrality” and the “argument from reasoning.” According to the argument from non-neutrality, we should not believe the truth of Centrality because it is ill- motivated by a particular dialectical standard of evidence. According to the argument from reasoning, philosophical practice relies on argumentation rather than intuition as its central evidence. As will be seen, both objections have different implications for different versions of Centrality. Though they constitute some prima facie strong reasons to deny some particular versions of Centrality, I shall argue, neither of them successfully undermines the version of Centrality that experimentalists need. Along the way, I will draw some parallels between intuition and perception. (shrink)

The Slow Movement brought with itself a focus on the speed of our living, and a desire to slow down our daily activities, including movement activities. Also, in the time of the current pandemic, m...

Background: It has been reported that type 2 diabetes is associated with olfactory identification impairments and cognitive decline. However, the relationship between OI impairments and cognitive decline is largely unknown in T2DM patients.Methods: Sixty-eight T2DM patients and 68 healthy controls underwent 3D-T1 MRI scans, olfactory and cognitive assessments. The cortical thickness of olfaction-related brain regions, olfactory and cognitive scores were compared between groups. Correlation analyses were carried out among cognition, olfaction, and cortical thickness of olfaction-related brain regions.Results: First, the cognitive (...) and olfactory test scores of T2DM patients were lower than healthy subjects. Second, higher olfactory scores were associated with increased cortical thickness in the left parahippocampal gyrus and bilateral insula in T2DM. Third, higher olfactory scores were associated with higher cognitive performance in T2DM. Fourth, some cognitive performances were related to cortical thickness in the left parahippocampal gyrus and left insula in T2DM.Conclusion: These findings indicated that olfactory dysfunction may be useful for future applications that attempt to predict cognitive decline or develop tailored therapies in T2DM patients. (shrink)

This paper investigates the substation inspection problems of multimobile robots for large power stations in smart microgrids. Most multirobot inspection robots generally face the challenge of path planning, while the current widely used biological excitation neural network methods often have the defect of the neuronal active field near boundaries and obstacles. To end this, we propose an improved biological excitation neural network method for path planning based on a detailed architecture and ontology framework, through which the single-point inspection, multipoint inspection, (...) and full-area inspection tasks of substations in smart microgrids can be well completed. Simulation results show that the designed IBENN-based multirobot collaboration inspection system can effectively shorten the path as well as the number of turns and then show better performance than most existing results when implementing various substation inspection tasks. (shrink)

The thirty-three sections of the Chuang Tzu annotated by Kuo Hsiang of the Chin dynasty were published during the period of the Northern Sung dynasty. Meanwhile, a preface allegedly by Kuo Hsiang was also printed in the book. The preface is as follows:Chuang Tzu was a man who had good knowledge of the origins of things in the universe and avoided no fantastic ideas. His remarks are hard to understand yet pertinent to phenomena. Any remark which is hard to understand (...) yet pertinent to phenomena may be true but useless; any remark which touches no actual things may be lofty but impracticable. This is surely different from a reluctant rise after inability. If the mind is free from preoccupations, it will respond to events at any time, and as a result, remarks will be cautious. Adapting himself to changes in the universe, Chuang Tzu was not merely turning out writings in the form of dialogues on things beyond human experience. (shrink)

Patients requiring deep brain stimulation due to intracerebral metallic foreign substances have not been reported elsewhere in the world. Additionally, the long-term effects of metallic foreign bodies on deep brain stimulation are unknown. A 79-year-old man with a 5-year history of Parkinson's disease reported that, 40 years ago, while playing with a pistol, a metallic bullet was accidentally discharged into the left brain through the edge of the left eye, causing no discomfort other than blurry vision in the left eye. (...) DBS was performed due to the short duration of efficacy for oral medication. Because the bullet was on the left subthalamic nucleus electrode trajectory and the patient's right limb was primarily stiff, the patient received globus pallidus interna -DBS implantation in the left hemisphere and STN-DBS implantation in the right hemisphere. During a 6-month postoperative follow-up, the patient's PD symptoms were effectively managed with no noticeable discomfort. (shrink)

The belief that syntax is an innate, autonomous, species-specific module is highly questionable. Syntax demonstrates the mosaic nature of evolutionary change, in that it made use of (and led to the enhancement of) numerous preexisting neurocognitive features. It is best understood as an emergent characteristic of the explosion of semantic complexity that occurred during hominid evolution.

With the increasing use of technology in nursing, how nurses perform practice care has changed, inevitably leading to ethical concerns that differ from original ethical norms in nursing. Studies have focused on ethical issues in health informatics from clinicians’ or patients’ perspectives, while nurses’ perspective is needed. This paper conducts a theoretical study on ethical predicaments that arise in nursing informatics from nurses’ perspectives. Why and how these predicaments emerge are elaborated. Also, this paper offers countermeasures in realistic contexts from (...) technique, education, and leadership aspects. Collaborations between governments, administrators, educators, technicians, and nurses are needed to step out of these predicaments. (shrink)

Bayesian networks can be employed to cognitive diagnostic assessment. Most of the existing researches on the BNs for CDA utilized the MCMC algorithm to estimate parameters of BNs. When EM algorithm and gradient descending learning method are adopted to estimate the parameters of BNs, some challenges may emerge in educational assessment due to the monotonic constraints cannot be satisfied in the above two methods. This paper proposed to train the BN first based on the ideal response pattern data contained in (...) every CDA and continue to estimate the parameters of BN based on the EM or the GD algorithm regarding the parameters based on the IRP training method as informative priors. Both the simulation study and realistic data analysis demonstrated the validity and feasibility of the new method. The BN based on the new parameter estimating method exhibits promising statistical classification performance and even outperforms the G-DINA model in some conditions. (shrink)

With a focus in the financial market, stock market dynamics forecasting has received much attention. Predicting stock market fluctuations is usually challenging due to the nonlinear and nonstationary time series of stock prices. The Elman recurrent network is renowned for its capability of dealing with dynamic information, which has made it a successful application to predicting. We developed a hybrid approach which combined Elman recurrent network with factorization machine technique, i.e., the FM-Elman neural network, to predict stock market volatility. In (...) this paper, the Standard & Poor’s 500 Composite Stock Price index, the Dow Jones industrial average index, the Shanghai Stock Exchange Composite index, and the Shenzhen Securities Component Index were used to demonstrate the validity of our proposed FM-Elman model in time-series prediction. The results were compared with predictions obtained from the other two models which are basic BP neural network and the Elman neural network. Some experiments showed that the FM-Elman model outperforms others through different accuracy measures. Furthermore, the effects of volatility degree on prediction performance from different stock indexes were investigated. An interesting phenomenon had been found through some numerical experiments on the effects of different user-specified dimensions on the proposed FM-Elman neural network. (shrink)

This paper presents an active fault-tolerant control strategy for quadrotor helicopters to simultaneously accommodate sensor faults and external disturbances. Unlike most of the existing fault diagnosis and fault-tolerant control schemes for quadrotor helicopters, the proposed fault diagnosis scheme is able to estimate sensor faults while eliminating the effect of external disturbances. Moreover, the proposed fault-tolerant control scheme is capable to eliminate the adverse effect of external disturbances as well by designing a disturbance observer to effectively estimate the unknown external disturbances (...) and integrating with the designed integral sliding-mode controller. In this case, the continuous operation of the quadrotor helicopter is ensured while avoiding the unexpected control chattering. In addition, the stability of the closed-loop system is theoretically proved. Finally, the effectiveness and advantages of the proposed scheme are validated and demonstrated through comparative numerical simulations of the quadrotor helicopter under different faulty and uncertain scenarios. (shrink)

The book is a translation of the second edition of a much-used and research-based Chinese textbook. As a succinct and issue-based introduction to the Western philosophy of science, the book brings eight focal issues in the field to the fore and augments each topic by incorporating Chinese perspectives. Followed by an overview of the historical framework and logical underpinnings of the philosophy of science, the book thoroughly discusses eight issues in the discipline: the criteria of cognitive meaning, induction and confirmation, (...) scientific explanation, theories of scientific growth, the demarcation between science and pseudoscience, scientific realism and empiricism; the philosophy of scientific experimentation, science and value. Not confined to Western mainstream discourse in this field, the book also introduces voices of Chinese philosophers of note and adopts a stance that productively combines logical empiricism and Kuhnianism, both of which tend to be covered in less detail by many English language textbooks. In the final chapter the author offers a prognosis regarding the future of the discipline based on recent trends. This book will be of value to students who study philosophy of science and hope to gain a better understanding of science and technology. (shrink)