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. (shrink)

The present study adopts both empirical and theoretical methods for the analysis of the acquisition of English sentence stress based on Optimality Theory, aiming to overcome mispronunciation of English sentence stress. Optimality Theory has a dramatic impact on most areas in linguistics besides phonology. The acoustic software Praat is chosen to collect and label data as the basis of the empirical method. Then, through analyzing the four major principles of distribution of sentence stress and based on the analysis of Optimality (...) Theory, the software Praat, and SPSS, the researcher can present the following findings: firstly, the constraint hierarchical ranking of nonnative speakers is DEP-IO >> NEW-IP >> ALIGN-IP-LEFT >> ALIGN-IP-RIGHT. Secondly, the native speakers also undergo the demotion of constraint hierarchical ranking: NEW-IP >> DEP-IO >> ALIGN-IP-RIGHT >> ALIGN-IP-LEFT. Thirdly, the constraint in each demotion of constraint hierarchical ranking during different stages is as follows: NEW-IP constraint moves from the undominated position to the dominated position in the hierarchy; ALIGN-IP-RIGHT and ALIGN-IP-LEFT constraints move from the dominated position to the lower position in the hierarchy. Through the specific analysis, the researcher draws a conclusion that the varied reasons affect the nonnative speakers to master the distribution of sentence stress due to their incorrect position in the demotion of constraint hierarchical ranking. (shrink)

Textbook of Marxist philosophy for medical students in China.

In this paper, we study the problem of protecting privacy in recommender systems. We focus on protecting the items rated by users and propose a novel privacy-preserving matrix factorization algorithm. In our algorithm, the user will submit a fake gradient to make the central server not able to distinguish which items are selected by the user. We make the Kullback–Leibler distance between the real and fake gradient distributions to be small thus hard to be distinguished. Using theories and experiments, we (...) show that our algorithm can be reduced to a time-delay SGD, which can be proved to have a good convergence so that the accuracy will not decline. Our algorithm achieves a good tradeoff between the privacy and accuracy. (shrink)