Wei Zhang

We investigate the cross-correlations of return-volume relationship of the Bitcoin market. In particular, we select eight exchange rates whose trading volume accounts for more than 98% market shares to synthesize Bitcoin indexes. The empirical results based on multifractal detrended cross-correlation analysis reveal that the nonlinear dependencies and power-law cross-correlations in return-volume relationship are found; all cross-correlations are multifractal, and there are antipersistent behaviors of cross-correlation for q=2; the price of small fluctuations is more persistent than that of the volume, while the volume of larger fluctuations is more antipersistent; and the rolling window method shows that the cross-correlations of return-volume are antipersistent in the entire sample period.

The problem of self-consciousness has been an essential one for philosophy since the onset of modernity. Both E. Tugendhat and the Heidelberg School represented by D. Henrich have reflected critically upon the traditional theory of self-consciousness, and both have revealed the circular dilemma of the “reflection-model” adopted by the traditional theory. In order to avoid the dilemma, they both proposed substitute formulas, each of which has its advantages and disadvantages. Husserl also paid particular attention to the traditional theory of self-consciousness in his phenomenology. Through the distinctions of “primal consciousness” and “reflection,” Husserl explored the core problem of the traditional theory of self-consciousness in two different dimensions. In his critique, Husserl clarified the founding relation between primal consciousness and reflection, and in contrast to Tugendhat’s semantic approach, he developed a new reflection-model of self-consciousness which effectively avoids the circular dilemma of the traditional theory and does not narrow the problem domain of that theory.

Using the promulgation of Green Credit Guidelines in China as the research setting, this paper exploits a quasi-natural experiment to examine the impact of green credit policy on the stock price crash risk of heavy-polluting firms. The results show that green credit policy significantly increases the risk of stock price crash of heavy-polluting firms. Such impact is transmitted through increased financial constraints and reduced information transparency. In addition, we find that the impact of green credit policy on the stock price crash risk is more pronounced in firms with weak external governance and a small size. Our findings provide policy implications for mitigating corporate risks and promoting corporate sustainability.

With the development of industrialization and urbanization, cities have become the main carriers of economic activities. However, the long-term development of cities has also caused damage to resources and the environment. Hence, objective and scientific evaluation of urban low-carbon sustainable development capacity is very important. An index system of urban low-carbon sustainable development capability is constructed in this paper, and a TOPSIS-BP neural network model is established to evaluate the low-carbon sustainable development capability of Beijing, Shanghai, Shenzhen, and Guangzhou in China. At the same time, the difference degree of low-carbon sustainable development level in these four cities is analyzed by standard deviation and coefficient of variation, and the influencing factors of urban low-carbon sustainable development ability are extracted by grey correlation analysis. The results show that the capability of low-carbon sustainable development in four cities is rising and the difference of low-carbon sustainable development capability is decreasing; the general view that the higher the general investment in low-carbon sustainable development, the higher the level of low-carbon sustainable development in cities has not been verified; with the change of time series, the factors affecting the capability of low-carbon sustainable development in the same city are different and the influence of the same factor on the capability of low-carbon sustainable development in different cities is different.

The dissertation project is a study of the rhetoric of "enlightenment" and the philosophy of modernity. It addresses two seemingly unrelated questions: "what is enlightenment?" and "what is May Fourth?" The investigation of these two questions is located in the contexts of Kant-Foucault-Habermas's dialogue on "what is enlightenment?" and Western sinology's re-presentation of Chinese modernity. One of the objectives of the present study is to critique modern sinology's re-presentation of Chinese modernity, which has reduced the latter into a latent statement of the Enlightenment and a derivative language of Reason, and hence, to seek to determine the conditions of possibility to address the question of "what is May Fourth?" ;The study attempts to identify the problematics in the Kant-Foucault-Habermas context, in which enlightenment was treated as an enterprise to bridge the gap between theoretical reason and practical intelligence, reason and unreason, and expert knowledge and everyday praxis. The study suggests that mediation of hermeneutic understanding of text/tradition with political commitment to organize an enlightened society was treated differently in Confucian and modern Chinese political philosophy and historiographical discourse. Examination of that treatment, the study points out, may help provide a framework to further reflect upon some unresolved problems and anticipate some pratical difficulties in the Western genealogy of enlightenment

The use of comparative methods to study in China since reform and opening up and development of higher education faces challenges and opportunities. Pointed out: At present, China's higher education development to a new stage and critical period, opportunities and challenges, we must establish and implement the scientific concept of development, people-oriented, co-ordination of higher education and economic development of the coordinated development of the connotation and extension of the coordinated development of Road, correctly grasp the scale and quality of the dialectical relationship between the advance of different types, levels, ownership and coordination of higher education in the development of different regions. The development of higher education in China has reached a new and crucial stage currently, facing both opportunities and challenges. We must establish and implement a scientific concept of development, which is human-oriented. By both intensive form and extensive form, the increasing speed of the scale of higher education should be coordinated with that of economic development. The dialectical relationship between the scale and quality has to be mastered. The development of different types, levels, ownerships and regions of higher education should be coordinated and balanced.

Les questions les plus fondamentales de la phénoménologie du sentir de Max Scheler concernent la place de l’intentionnalité dans la phénoménologie du sentir et la structuration de la sphère émotionnelle. Dans la première section, nous nous focaliserons avant tout sur la différence entre les sentiments non intentionnels et le sentir intentionnel, en comparant sur ce point les positions de Scheler et de Husserl. En effet, Scheler critique ces deux thèses fondamentales de Husserl: 1) les actes affectifs et leurs corrélats (« valeurs ») doivent être associés aux représentations et à leurs corrélats (« choses », Sachen ); 2) les actes affectifs, en tant qu’actes non objectivants, sont fondés dans les actes objectivants. D’une part, pour Scheler, la valeur est un objet unique en son genre du sentir des valeurs, et le sentir intentionnel est donc un acte indépendant. D’autre part, Scheler a d’abord entrepris de dépasser la séparation entre acte objectivant et acte non objectivant. Dans ce contexte, la recherche actuelle consacrée à Scheler se heurte à de nombreuses difficultés relatives à la structuration de la sphère émotionnelle en rapport avec la hiérarchie des modalités axiologiques et avec l’a priori corrélationnel. Dans la deuxième section, nous expliquerons d’abord les idées de Scheler, puis en discuterons les difficultés. C’est par le « commerce vivant » avec le monde dans le sentir intentionnel et dans les actes émotionnels intentionnels, par les corrélats intentionnels (valeurs matérielles), que Scheler se sépare du formalisme en éthique. A travers un « apriorisme matériel » qui présente trois espèce d’a priori (a priori axiologique, a priori émotionnel et a priori corrélationnel), l’éthique matérielle phénoménologique des valeurs de Sche­ler est guidée par l’esprit d’un « objectivisme et absolutisme éthique rigoureux »

The concept of a priori plays an important role in Kant’s entiree philosophy. However, Husserl often claimed that a genuine concept of a priori in the phenomenological sense was absent in Kant. Scheler criticized this concept of Kant just as Husserl did. All of Scheler’s ethical critiques of Kant, who is the major opponent to Scheler, are based on his critiques of Kant’s concept of a priori because, for Scheler, it is the largest absurdity of Kant’s theory that a priori is equated to the formal. Scheler thus clearly delineated Kant’s transcendentalism, which seeks a priori in form. It seems that Scheler‘s comprehension and interpretation of a priori reversed Kant’s “Copernican revolution”, in contrast with which, Scheler carried ou a „Ptolemiac counter-revolution“. In fact, Scheler questioned Kant‘s transcendental-rational theory of the function of synthetic categories, which derived from the “Copernican revolution”. Nevertheless, Scheler did not want to defend the pre-Kant position, or Kant’s pre-critique period. He also did not mean simply to stress one side in Kant’s dualism, which was ignored by Kant. In fact, he wanted to question Kant’s metaphysical dualism itself. The eventual goal of his phenomenological philosophy is to reveal the uncritical presuppositions in Kant’s critical philosophy.

Adolescents' community violence exposure has been demonstrated with a range of behavioral and psychological problems, but the processes that explain these correlations are not clear. In our 2017 study, the mediating role of deviant peer affiliation in the relationship between CVE and externalizing problem behaviors has been confirmed. However, the moderating effect of parental factors is still unclear. Therefore, a new group was adopted in this study to further explore the moderating effect of parental knowledge based on also confirming the mediating effect of deviant peer affiliation. Stratified-cluster sampling was used to recruit 1,797 volunteers who completed questionnaires on CVE, deviant peer affiliation, parental knowledge, and externalizing problem behaviors. The results of the structural equation modeling were: on the basis of our previous research, we further analyzed the mediating role of deviant peer affiliation, and the mediated association was moderated by parental knowledge. Especially when the school climate is added as a covariate, the moderating effect of parental knowledge has changed, that is, the positive association between CVE and externalizing problem behaviors was much stronger for adolescents who reported lower levels of parental knowledge than for those who reported higher levels of parental knowledge. The results support the assumptions of social learning theory and have implications for interventions of community violence.

The idea of “materialization of morality” is now attracting increasing attention in the field of philosophy of technology. It bears great theoretical and practical meanings. In terms of theoretical aspect, it provides a “material answer” to the traditional ethical question “how to act” for the disciplines of ethics; for philosophy of technology, it transforms the externalist study approach to the internalist study approach. In terms of practical aspect, it provides a material way on disciplining human being’s actions. Furthermore, it expands the view of industrial design, adding the new dimension of morality into design activity. However, it also confronts several challenges. One is that, if the choices of human are decided by technology, then, where is the free will? In what sense can we still be human? Should we still be responsible for the bad results in some special situations? If so, how much responsibility should we take? The second is that it may lead to technocracy. Last but not lest, But if the designer becomes the leading character in “doing’’ ethics, then what can ethicists and philosophers do? What is their new role? So, new answers must be figured out to solve these questions. In this paper, I will introduce the principle or method of “libertarian paternalism” and “field philosophy” into this approach.

Dreaming: a process of self-organizationKahn and Hobson (1993) proposed that dreams are a product of self-organization of brain during sleep. As a complex system far from equilibrium state, the dreaming brain may form a new pattern by the interaction between components within this system. At REM sleep stage, signals from neuronal clusters self-organize and form image fragments, then the image fragments interact and produce images, and finally these materials are associated into a relatively continuous narrative (i.e., dreams). This process above happens under a weak control of brain, and the conditions of this state mainly include: (a) the inhibition of external stimuli or feedback; (b) the changes of neuromodulatory systems (e.g., the governance of aminergic neurochemicals and the weakness of cholinergic neurochemicals); (c) the bombardment of PGO wave to the visual cortex; and (d) the changes of neural activity in brain (e.g., the activation of limbic system and the reduction of prefrontal regions). In this situation, the brain could focus on the internal world and integrate various psychological and physiological changes into dream content (Kahn et al., 2002, 2000). However, self-organization mechanism could not determine which memories will be activated and incorporated into dream content (Kahn, 2013), although it provides an approach how an ordered structure, behavior or pattern spontaneously emerges from the interaction between components or subsystems without an e...

The symbiotic resonance of the planetary and psychosomatic bodies was one of the most ancient religious and philosophical assumptions in ancient China. A number of contemporary scholars have explored this assumption in various branches of Chinese thought. Here, I would like to investigate this ancient assumption further in relation to the classical medical traditions, arguing that it was the medical thinkers who first attempted a systematic treatment and modeling of the macrocosm and the somatic body as a microcosm. Specifically, I suggest that the mutual trust between cosmology and medicine yields a cosmological synthesis of..

Urban rail transit can improve a city’s accessibility. However, high construction and operation costs restrict the development of urban rail transit. Value capture recoups the additional value that the investments of urban rail transit confer to local land and is considered to be an effective measure to alleviate this financial problem. Understanding the land value uplift effects of urban rail transit is essential for understanding value capture. This study applied a Space-P model of urban rail transit network based on complex network theory and demonstrated the influence of urban rail transit network characteristics on residential and commercial land prices. The model was tested with eight metropolises in China, using the 2003 to 2022 timeframe as the context. The results showed a significant positive correlation between the number of nodes and the land prices, the average clustering coefficient was highly positively correlated with the land prices, and there was a significant negative correlation between the average path length and the land prices. This study provides theoretical support for value capture, is beneficial for urban rail transit planning, and supports improvements in the development quality of urban rail transit networks.

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.

Important strides have been made toward understanding the relationship between self-efficacy and life satisfaction. However, existing studies have largely focused on work and academic domains, leaving self-efficacy in the finance domain less frequently investigated. The present study applied the self-efficacy construct to the finance domain, namely “financial self-efficacy”, and tested the sequential mediating roles of high standards tendency and investment satisfaction in the relationship between FSE and general life satisfaction. A total of 323 employees from finance-related businesses completed anonymous questionnaires regarding FSE, high standards tendency, investment satisfaction, and general life satisfaction. Results indicated that FSE influenced general life satisfaction through investment satisfaction, and sequentially through high standards tendency and investment satisfaction. These results provide contributions to the current literature on life satisfaction, and positive psychology literature by shedding light on the roles of high standards tendency and investment satisfaction in the relation between FSE and general life satisfaction.