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Examining the Nonlinear and Spatial Heterogeneity of Housing Prices in Urban Beijing: An Application of GeoShapley
No full textHousing is essential for human well-being and economic stability. Major metropolitan areas, particularly in developing countries, face severe housing price challenges. Traditional Hedonic Pricing Models (HPM) have extensively examined the determinants of housing prices, often assuming linear relationships and overlooking submarket segmentation. While approaches such as Geographically Weighted Regression (GWR) address spatial heterogeneity, they may still struggle with capturing complex nonlinear interactions between housing attributes, neighborhood factors, and spatial dependencies. To overcome these limitations, this study combines Extreme Gradient Boosting (XGBoost) with the GeoShapley to better model nonlinear and spatially varying effects on housing prices. The GeoShapley summary plot reveals that spatial location (GEO) is the most influential feature, followed by distance to the CBD, housing age, and housing size, along with their interactions with GEO. Further analysis uncovers that larger suburban homes show weaker market performance compared to smaller units in central districts, revealing distinct submarket dynamics. Properties near the CBD, particularly in school districts and green landscapes, maintain higher value due to the spillover effects of educational and environmental amenities. Conversely, the negative correlation between proximity to Xizhimen Metro Station and housing prices highlights the complexity of metro accessibility, where factors such as station design might diminish the expected premium. These insights inform real estate policy and sustainable urban planning by spotlighting the importance of spatial heterogeneity and threshold effects, thus extending classical theories of urban housing markets to account for submarket-specific price formation processes
Multiscale simulation of stratum corneum lipid mixtures: effects of ceramide headgroups on structural organization and hydrogen bonding networks
No full textThe barrier function of the outermost layer of human skin, the stratum corneum (SC), arises from its multilamellar lipid matrix composed primarily of ceramides (CERs), cholesterol (CHOL), and free fatty acids (FFAs). Coarse-grained (CG) and atomistic molecular dynamics simulations have been used to study self-assembled multilayers comprising CERs NS, NP, AS, and AP, in pure CER systems and mixtures of CERs with CHOL and FFAs. Equilibrated CG configurations were reverse-mapped to recover atomistic details and analyzed to extract structures and hydrogen bonding. Simulations of pure CERs agreed with experimental trends: phytosphingosine CERs (NP and AP) exhibited more Cdouble bondO hydrogen bonds, consistent with lower amide I FTIR frequencies, than their sphingosine counterparts (NS and AS). Likewise, non-hydroxy CERs (NS and NP) exhibited more Cdouble bondO hydrogen bonding than their α-hydroxy analogs (AS and AP). CER mixtures with CHOL and FFA showed reduced Cdouble bondO hydrogen bonding compared to pure CERs, though this effect depended on water content. Hydroxyl location was critical: OH on the phytosphingosine base increased Cdouble bondO hydrogen bonding, whereas the α-hydroxy on the acyl chain reduced it. In CER NP:AP mixtures with CHOL and FFA, simulations reproduced the experimental repeat distances of the NP-rich and AP-rich systems despite differences in hydrogen bonding. Simulations of multicomponent mixtures resembling the SC model of Bouwstra demonstrated the dominant effect of chain-length distribution, rather than CER hydrogen bonding, on permeability. This work shows how multiscale modeling integrated with experiments can uncover molecular mechanisms linking composition and SC barrier structure to interpret experimental results
The limits to state capital: on the hubris of state intervention in the age of Trump
No full textState capitalism is no longer the exception – it’s the rule. Across the political spectrum, from left to right, in democracies and autocracies alike, the state has reclaimed a dominant role in shaping economies. Industrial policies and national development plans are now openly embraced, with governments actively steering markets through state-owned enterprises, sovereign wealth funds and state-backed financial institutions. Where direct state involvement is absent, protectionist trade policies and strategic interventions safeguard national industries. This resurgence of state power has fractured the global economy, deepening divides between nations and heightening fears that escalating economic rivalries could spill over into geopolitical conflict. In this commentary, based on a FinGeo-RSA keynote presented at the Regional Studies Association annual conference in May 2025, I examine ideological justifications that legitimize this expanded state intervention, from mission-oriented governance to abundance agendas to conservative industrial policy. Drawing on insights from the liberal tradition – particularly Adam Smith and Friedrich Hayek – I argue that these contemporary frameworks systematically underestimate the knowledge problems inherent in centralised economic planning. I conclude by arguing for renewed engagement with liberal political economy within financial geographical research as a source of analytical scepticism for understanding the limits and possibilities of state intervention
Highly tunable band structure in ferroelectric R-stacked bilayer WSe<sub>2</sub>
No full textTransition metal dichalcogenide homobilayers unite two frontiers of quantum materials research: sliding ferroelectricity, arising from rhombohedral (R) stacking, and moir´e quantum matter, emerging from small-angle twisting. The spontaneous polarization of ferroelectric R-stacked homobilayers produces a highly tunable band structure, which, together with strain-induced piezoelectricity, governs the topology and correlated electronic phases of twisted bilayers. Here we present a systematic low-temperature optical spectroscopy study of R-stacked bilayer WSe2 to quantitatively establish its fundamental electronic and ferroelectric properties. Exciton and exciton-polaron spectroscopy under doping reveals a pronounced electron–hole asymmetry that confirms type-II band alignment, with the conduction and valence band edges located at the Λ and K valleys, respectively. Through distinct excitonic responses and tunable interlayer–intralayer exciton hybridization under displacement fields, we uncover the coexistence of AB and BA ferroelectric domains. Using exciton-polarons as a probe, we directly measure the intrinsic polarization field and extract the interlayer potential. Finally, we demonstrate electric-field-driven symmetric switching of the valence band maximum, attributed to ferroelectric domain switching. These results provide a complete experimental picture of the band alignment, spontaneous polarization field, and domain dynamics of R-stacked WSe2, establishing key parameters to understand twisted bilayers and enabling new ferroelectric and excitonic device opportunities
Transparency or Opacity? An analysis of Luxury Firms’ responses to seven years of Devoir de Vigilance mandatory sustainability risk reporting
No full textPurpose: This paper focuses on analysing luxury fashion firms reporting responses to the French Corporate Duty of Vigilance law, as a lens through which to assess the comprehensiveness of reporting related to mandatory disclosures. The Devoir De Vigilance law is relevant as it was one of the first legislative moves to link supply chain risks and environmental and social sustainability. Design/Methodology/Approach: A secondary data content analysis of seven years of reporting by five luxury goods brands is conducted using the legislative reporting requirements of mapping, assessing, preventative actions, alert mechanisms, and monitoring schemes as an analytical framework.Findings: There is basic technical compliance to the provision of mandated reporting, but reports are far from comprehensive as evidence is provided of undefined concepts, vague terminology, and the variability of audit and risk management tools applied. These shortcomings result in a lack of comprehensive and specific reporting on human rights and environmental risks in these supply chains, despite the raw materials used being well-documented for human rights abuses and other ethical and environmental issues. Originality: There has been increasing interest in responses to mandated reporting in supply chains. The luxury goods context, the assessment within mandatory rather than voluntary reporting, and a focus on reporting content provides an original contemporary investigation of disclosures for sustainability risks within supply chains, through the lens of the mandated Devoir de Vigilance legislation in France. <br/
Customer Concentration and the Readability of 10-K Reports
No full textWe investigate the relationship between customer concentration and the readability of suppliers’ financial disclosures. Using a large sample of 9,554 US-listed firms from 1994 to 2020, we find that suppliers with a more concentrated customer base produce lower quality 10-K reports. This negative association is driven by managerial obfuscation motives and is more pronounced for suppliers that pay excess CEO compensation, face lower customer switching costs, make higher relationship-specific investments and have greater board independence. Suppliers with high customer concentration produce better quality reports when they face increased institutional monitoring. We mitigate potential endogeneity issues using an instrumental variable, propensity score, entropy balance matching, and Oster’s (2019) test for omitted variable bias. Our results are robust to several alternative proxies for both customer concentration and 10-K report readability. Our findings provide robust empirical evidence that suppliers with a highly concentrated customer base produce less readable financial information
Customer Concentration and the Readability of 10-K Reports
No full textWe investigate the relationship between customer concentration and the readability of suppliers’ financial disclosures. Using a large sample of 9,554 US-listed firms from 1994 to 2020, we find that suppliers with a more concentrated customer base produce lower quality 10-K reports. This negative association is driven by managerial obfuscation motives and is more pronounced for suppliers that pay excess CEO compensation, face lower customer switching costs, make higher relationship-specific investments and have greater board independence. Suppliers with high customer concentration produce better quality reports when they face increased institutional monitoring. We mitigate potential endogeneity issues using an instrumental variable, propensity score, entropy balance matching, and Oster’s (2019) test for omitted variable bias. Our results are robust to several alternative proxies for both customer concentration and 10-K report readability. Our findings provide robust empirical evidence that suppliers with a highly concentrated customer base produce less readable financial information
Transparency or Opacity? An analysis of Luxury Firms’ responses to seven years of Devoir de Vigilance mandatory sustainability risk reporting
No full textPurpose: This paper focuses on analysing luxury fashion firms reporting responses to the French Corporate Duty of Vigilance law, as a lens through which to assess the comprehensiveness of reporting related to mandatory disclosures. The Devoir De Vigilance law is relevant as it was one of the first legislative moves to link supply chain risks and environmental and social sustainability. Design/Methodology/Approach: A secondary data content analysis of seven years of reporting by five luxury goods brands is conducted using the legislative reporting requirements of mapping, assessing, preventative actions, alert mechanisms, and monitoring schemes as an analytical framework.Findings: There is basic technical compliance to the provision of mandated reporting, but reports are far from comprehensive as evidence is provided of undefined concepts, vague terminology, and the variability of audit and risk management tools applied. These shortcomings result in a lack of comprehensive and specific reporting on human rights and environmental risks in these supply chains, despite the raw materials used being well-documented for human rights abuses and other ethical and environmental issues. Originality: There has been increasing interest in responses to mandated reporting in supply chains. The luxury goods context, the assessment within mandatory rather than voluntary reporting, and a focus on reporting content provides an original contemporary investigation of disclosures for sustainability risks within supply chains, through the lens of the mandated Devoir de Vigilance legislation in France. <br/
Nudge waste out: Understanding the impacts of green nudges on on-site construction waste management based on metaverse serious game
No full textNudge theory proposes that subtle changes in choice presentation can have a profound influence on people's decisions and behaviors. Grounded in this theory, researchers and practitioners started to design and implement ‘green nudges’ that can alter workers' behavior in conducting on-site construction waste management (CWM). However, how exactly such nudges can be designed and implemented remains unclear. This paper explores ‘green nudges’ that can be deployed to boost CWM on site. Instead of developing physical nudges and implementing them, this research adopts the metaverse serious games. Firstly, several green nudge options were developed based on the literature and CWM practices. Their on-site implementations were simulated in metaverse serious games. Next, seventy participants with construction site management experience were randomly assigned to either an experimental group (exposed to green nudges) or a control group (operating under conventional conditions). The Mann-Whitney U tests and XGBoost-based SHAP analyses were conducted to compare the results between the two groups. It is discovered that participants who were exposed to green nudges, such as ‘moral suasion’, ‘simplification’, and ‘social comparison’ with timely feedback, showed improved performance in ‘participation count’, ‘waste collection rate’, and ‘sorting accuracy’ in CWM. Moreover, attitudes, perceived convenience, and emotion were found to significantly influence CWM performance. Waste managers should consciously tap into these green nudges to improve these aspects and ultimately achieve improved CWM performance.</p
Adaptation and validation of the Youth Internalizing and Externalizing Problems Screener in Portugal: A unified psychological health screening tool
No full textResearch points to the importance of school-based universal screening focused on psychological health and well-being dimensions to reach a baseline that allows for the allocation of pupils on adequate interventions and supports, and monitors their response to intervention. When screening for mental health problems, it is recommended to screen for internalizing and externalizing behaviors. This study conducted an adaptation and validation of the Youth Internalizing and Externalizing Problems Screener (YIEPS) in the Portuguese context, following three main steps: translation, exploratory factor analysis (EFA), and confirmatory factor analysis (CFA). Data was collected in 10 schools, with a final sample of 942 adolescents randomly split into two subsamples. Initially, EFA was conducted on one subsample and then CFA was conducted on the other. Results support a bifactor model with two specific factors (internalizing and conduct problems) and a general mental health problems factor, eliminating items pertaining to attention problems and hyperactivity-impulsivity. This adapted measurement model showed good internal consistency, reliability, concurrent and divergent validity with other measures of mental health problems, and psychosocial functioning. The YIEPS-Portuguese can be used in Portuguese schools to screen for psychological health difficulties, in addition to other measures to screen for the complete mental health of pupils
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