Whether the real performance of corporate social responsibility is related to social progress and development in the critical period of China's economic transformation. It is crucially significant for improving social welfare and promoting high-quality economic development to clarify the...

We consider reinforcement learning (RL) in continuous time and study the problem of achieving the best trade-off between exploration of a black box environment and exploitation of current knowledge. We propose an entropy-regularized reward function involving the differential entropy of the...

We propose to solve large scale Markowitz mean-variance (MV) portfolio allocation problem using reinforcement learning (RL). By adopting the recently developed continuous-time exploratory control framework, we formulate the exploratory MV problem in high dimensions. We further show the...

We approach the continuous-time mean-variance (MV) portfolio selection with reinforcement learning (RL). The problem is to achieve the best tradeoff between exploration and exploitation, and is formulated as an entropy-regularized, relaxed stochastic control problem. We prove that the optimal...

Coplanar supercapacitors on textiles have received much concern with the development of flexible and wearable energy-storage-devices because this configuration can remarkably enhance the mechanical deformation and facilitate the integration with other devices as compared with conventional...

This paper explores the influence of geographic, social and cultural proximity of independent directors on reducing Chinese listed firms' fraudulent and noncompliant practices. Our choice of using local versus non-local independent directors as a focus of study is motivated by the relevance of...

This paper explores the influence of geographic, social and cultural proximity of independent directors on reducing Chinese listed firms' fraudulent and noncompliant practices. Our choice of using local versus non-local independent directors as a focus of study is motivated by the relevance of...

We rely on governance theory summarized in Adams, Hermalin, and Weisbach (2010) and Bushman (2009) which suggests that corporate governance characteristics may be endogenous. This differs from past research that links governance to fraud (i.e., Farber 2005) and assumes corporate governance is...