Wentao Gu

Zhejiang Gongshang University · statistics

As the concept of environmental, social, and governance (ESG) coincides with the direction of enterprises’ sustainable development goals, this study measures sustainable entrepreneurship at the enterprise level by extending ESG measures. A time-varying measure was constructed using state-space models, and the entropy weight method was applied to ob...

The private placement of A-shares gained momentum with the release of the Administrative Measures for Securities Issuance of Listed Companies in 2006. This led to enhanced research on the impact of private placement on stock prices. In 2012, the Chinese government relaxed the requirements for directed issuance of listed companies, resulting in a su...

Purpose The purpose of this article is to explore the impact of the firm's entrepreneurship for the transformation of circular economy (CE). The role of entrepreneurship is thought to be important for the process of four Rs in the CE, and the authors have tried to study the role and impact path of entrepreneurship in CE. Design/methodology/approac...

China is an important emerging economy, and its capital market has witnessed rapid development in recent years. At the same time, market pressure and exposed risks have increased significantly, which might negatively influence entrepreneurial behaviors. From the perspective of behavioral finance, this study explored the impact of managers’ overconf...

The dominant position in crude oil pricing affects a country’s energy and economic security. We construct different time-series forecasting models to analyze the long-term trends of Shanghai crude oil futures and guide current price trading. First, we built a classic ARIMA model as the benchmark. It is a good choice for short-term investors but doe...

Based on the data of 22 different countries from 2005 to 2018, this paper mainly studies the influence of entrepreneurship on sustainability, and further explores the influence of Economic Policy Uncertainty (EPU) and the interaction effect between EPU and entrepreneurship on sustainability. The results show that EPU can promote economic, environme...

Based on the triple bottom line of sustainable development, sustainable entrepreneurship has been well studied; however, the existing literature on the measurement of sustainable entrepreneurship is still limited. This paper attempts to quantify sustainable entrepreneurship through three indicators, innovative spirit, entrepreneurial spirit and dec...

With the vigorous development of information technology, the textual data of financial news have grown massively, and this ever-rich online news information can influence investors’ decision-making behavior, which affects the stock market. Thus, online news is an important factor affecting market volatility. Quantifying the sentiment of news media...

High-quality development has recently become an inevitable requirement for sustainable and healthy economic development in China, which pursues a sustainable ecology and a happy society for people while developing economy. Entrepreneurship is believed to be the essence of enterprise and one of the important factors of social economic development. T...

The economy and environment are closely related and inseparable. This paper attempts to reinterpret the environmental Kuznets model from an entrepreneurial perspective. Therefore, in this paper, the panel regression model is used to test the relationship between entrepreneurship, economic development and environmental pollution under micro data, an...

Numerous studies have proven that news media sentiment has an impact on stock market volatility, making topics such as how to quantify news media sentiment and use it to predict stock market volatility increasingly relevant. In this paper, a Chinese financial sentiment lexicon was constructed to quantify the emotions in the news media as a sentimen...

Forecasting the direction of stock returns is an important topic in the literature, and it is, to some extent, predictable. In this paper, we consider a new directional forecasting model that applies and extends the time-varying probability density function theory that was proposed by Harvey and Oryshchenko (2012). We capitalize on the relationship...

This paper proposes a new non-parametric adaptive combination model for the prediction of realized volatility on the basis of applying and extending the time-varying probability density function theory. We initially construct an adaptive time-varying weight mechanism for a combination forecast. To compare the predictive power of the models, we take...

The relationship between entrepreneurship and venture capital (VC) in an emerging and immature market is a hot research topic, since entrepreneurship is an important factor in enhancing the competitiveness of enterprises and is regarded as a main driving force of the economy, especially for emerging and immature markets like China. By following the...

Stock returns play an important role in the empirical study of asset pricing, and are often applied in portfolio allocation and performance evaluation. The effect of macroeconomic and financial variables on stock returns is a hot topic and many studies have utilized these variables in time series models to improve the forecasts of stock returns. Th...

This paper discusses the relationship between entrepreneurship, as an important factor to enhance the competitiveness of enterprises, and venture capital (VC) in the context of China which has an emerging and immature market with high proportion of state-owned capital, imperfect legal system, inexperienced investors, and wrong market orientation. A...

The studies on economic policy uncertainty are growing recently, since it is an important topic in many economic research areas such as financial crisis, economic forecasting, corporate investment and so on. Using the data of Chinese listed companies from 2004 to 2013 and following the non-dynamic threshold panel model, this study investigates how...

This study explores the relationship between the performance of corporate environmental protection responsibility (CEP) and corporate value. Because CEP is part of corporate social responsibility (CSR), we also investigated the impacts of other parts of CSR on corporate value. From a stakeholder perspective and with considering the unique aspects o...

In this article, a generalized Lévy model is proposed and its parameters are estimated in high-frequency data settings. An infinitesimal generator of Lévy processes is used to study the asymptotic properties of the drift and volatility estimators. They are consistent asymptotically and are independent of other parameters making them better than tho...

Many of the trading strategies viewed as highly important by to financial market investors, we developed based on fundamental and technical analysis. We propose a stock trading strategy based on time-varying quantile analysis and apply it to the stock market in the People's Republic of China. Comparing results for both the buy-and-hold strategy and...

It is of a great interest in literature to forecast the direction of stock returns, which is to some extent predictable. In this paper, we consider a new directional forecasting model which is based on applying and extending the time-varying probability density function theory proposed by Harvey and Oryshchenko (Int J Forecase 1(28):3–14, 2012). Th...

Scatterplots are widely used to visualize scatter dataset for exploring outliers, clusters, local trends, and correlations. Depicting multi-class scattered points within a single scatterplot view, however, may suffer from heavy overdraw, making it inefficient for data analysis. This paper presents a new visual abstraction scheme that employs a hier...

This article is concerned with recovering a regression function g(x) on the basis of noisy observations taken at design points xi. The corresponding observations are corrupted by additive dependent noise induced by a general linear process. The regression function is estimated by a smoother, which is shown to have an asymptotic multivariate normal...

By applying the semiparametric approach with monte-carlo simulation, we construct the model to analyze the effects of the distributional changes in Chinese household structure during 1989 to 2004, including such attributes and status of old age pension, household socio-demographic, employment status and the “economic returns”. Through the analysis...

Data collected on the surface of the earth at different sites often have two- or three-dimensional coordinates associated with it. We assume a simple setting where these sites are integer lattice points, say, 𝒵, N ≥ 1, in the N-dimensional Euclidean space R . Denote n = (n1, …, nN)∈𝒵 and In = {i: i∈𝒵, 1 ≤ ik≤nk, k = 1, …, N}. Consider a simple regr...

Sharp convergence rates for fixed design regression estimators for negatively associated random variables are established. The rates are obtained by means of exponential inequalities, which hold under general conditions.