Cheng Chen

Young children with limited knowledge of formal mathematics can intuitively perform basic arithmetic‐like operations over nonsymbolic, approximate representations of quantity. However, the algorithmic rules that guide such nonsymbolic operations are not entirely clear. We asked whether nonsymbolic arithmetic operations have a function‐like structure, like symbolic arithmetic. Children (n = 74 4‐ to ‐8‐year‐olds in Experiment 1; n = 52 7‐ to 8‐year‐olds in Experiment 2) first solved two nonsymbolic arithmetic problems. We then showed children two unequal sets of objects, and asked children which of the two derived solutions should be added to the smaller of the two sets to make them “about the same.” We hypothesized that, if nonsymbolic arithmetic follows similar function rules to symbolic arithmetic, then children should be able to use the solutions of nonsymbolic computations as inputs into another nonsymbolic problem. Contrary to this hypothesis, we found that children were unable to reliably do so, suggesting that these solutions may not operate as independent representations that can be used inputs into other nonsymbolic computations. These results suggest that nonsymbolic and symbolic arithmetic computations are algorithmically distinct, which may limit the extent to which children can leverage nonsymbolic arithmetic intuitions to acquire formal mathematics knowledge.

We examine the impact of family firms’ historical ownership on corporate fraud. Our results show that restructured family firms from state-owned enterprises are more likely to violate and commit more fraud than entrepreneurial family firms. This finding is robust to the difference-in-difference-in-differences estimation, an instrument variables regression, fixed effects research design, and propensity score matching (PSM) approach analysis. Mechanism analysis shows that restructured family firms result in lower financial performance, high labor redundancy, inefficient investments, and cash volatility. Therefore, restructured family firms have a stronger incentive to conceal these problems through corporate fraud. Furthermore, the effects of family firms’ historical ownership on corporate fraud are weakened for a more extended period after SOE ownership reform and the restructuring approach adopted by equity takeover.

We examine the impact of family firms’ historical ownership on corporate fraud. Our results show that restructured family firms from state-owned enterprises are more likely to violate and commit more fraud than entrepreneurial family firms. This finding is robust to the difference-in-difference-in-differences estimation, an instrument variables regression, fixed effects research design, and propensity score matching (PSM) approach analysis. Mechanism analysis shows that restructured family firms result in lower financial performance, high labor redundancy, inefficient investments, and cash volatility. Therefore, restructured family firms have a stronger incentive to conceal these problems through corporate fraud. Furthermore, the effects of family firms’ historical ownership on corporate fraud are weakened for a more extended period after SOE ownership reform and the restructuring approach adopted by equity takeover.

Previous research has shown that parenting style is intricately linked to cyber-aggression. However, the underlying mechanisms of this relationship remain unclear, especially among young adults. Guided by the social cognitive theory and the ecological system theory, this study aimed to examine the effect of parenting style on cyber-aggression, the potential mediating role of moral disengagement, and the moderating role of moral identity in this relationship. Participants comprised 1,796 Chinese college students who anonymously completed questionnaires on parenting style, moral disengagement, moral identity, cyber-aggression, and demographic variables. After controlling for sex and age, parental rejection and over-protection were positively related to cyber-aggression; however, parental emotional warmth was non-significantly related to cyber-aggression. Mediation analysis revealed that parenting style was related to cyber-aggressive behavior through moral disengagement. Moderated mediation analysis further indicated that the indirect effect of parenting style on cyber-aggression was much stronger in college students with higher moral identity. The study carries important practical implications for parents and educators concerned about the destructive consequences of cyber-aggression.

Many studies have discussed the neural basis of asset bubbles. They found that the dorsolateral prefrontal cortex (DLPFC) played an important role in bubble formation, but whether a causal relationship exists and the mechanism of the effect of the DLPFC on bubbles remains unsettled. Using transcranial direct current stimulation (tDCS), we modulated the activity of the DLPFC and investigated the causal relationship between the DLPFC and the asset bubble in the classical learning-to-forecast experiment. 126 subjects were randomly divided into three groups and received different stimulations (left anodal/right cathodal, right anodal/left cathodal or sham stimulation) respectively. We also conducted a 2-back task before and after stimulation to measure changes in subjects’ cognitive abilities and explore in detail the cognitive mechanism of the effect of DLPFC stimulation on asset bubbles. Based on our results, we found that the bubble of the left anodal/right cathodal stimulation group was significantly smaller than that of the sham stimulation group. In the meantime, subjects performed significantly better in the 2-back task after left anodal/right cathodal stimulation but not right anodal/left cathodal or sham stimulation, which is consistent with their performance in the learning-to-forecast experiment, supporting the cognitive mechanism to some extent. Furthermore, we examined different forecasting rules across individuals and discovered that the left anodal/right cathodal stimulation group preferred the adaptive learning rule, while the sham and right anodal/left cathodal stimulation groups adopted a pure trend-following rule that tended to intensify market volatility aggressively.