Banking reforms, performance and risk in China

We investigate the impact of the banking reform started from 2005 on ownership structures in China on commercial banks’ profitability, efficiency and risk over the period 2000–2012, providing comprehensive evidence on the impact of banking reform in China. We find that banks on average tend to have higher profitability, lower risk and lower efficiency after the reforms, and the results are robust with our difference-in-difference approach. Our results also show that the Big 5 state-owned banks (SOCB) underperform banks with other types of ownership when risk is measured by non-performing loans (NPLs) over the entire study period but tend to have fewer NPLs than other banks during the post-reform period. Our results provide some supporting evidence on the ongoing banking reforms in China, suggesting that attracting strategic foreign investors and listing SOCBs on stock exchanges appear to be effective ways to help SOCBs deal with the problem of NPLs and manage their risk

Explaining the DAMPE data with scalar dark matter and gauged U(1)Le−LμU(1)_{L_e-L_\mu} interaction

Inspired by the peak structure observed by recent DAMPE experiment in $e^+e^-$ cosmic-ray spectrum, we consider a scalar dark matter (DM) model with gauged $U(1)_{L_e-L_\mu}$ symmetry, which is the most economical anomaly-free theory to potentially explain the peak by DM annihilation in nearby subhalo. We utilize the process $\chi \chi \to Z^\prime Z^\prime \to l \bar{l} l^\prime \bar{l}^\prime$, where $\chi$, $Z^\prime$, $l^{(\prime)}$ denote the scalar DM, the new gauge boson and $l^{(\prime)} =e, \mu$, respectively, to generate the $e^+e^-$ spectrum. By fitting the predicted spectrum to the experimental data, we obtain the favored DM mass range $m_\chi \simeq 3060^{+80}_{-100} \, {\rm GeV}$ and $\Delta m \equiv m_\chi - m_{Z^\prime} \lesssim 14 \, {\rm GeV}$ at $68\%$ Confidence Level (C.L.). Furthermore, we determine the parameter space of the model which can explain the peak and meanwhile satisfy the constraints from DM relic abundance, DM direct detection and the collider bounds. We conclude that the model we consider can account for the peak, although there exists a tension with the constraints from the LEP-II bound on $m_{Z^\prime}$ arising from the cross section measurement of $e^+e^- \to Z^{\prime\ast} \to e^+ e^-$.Comment: 15 pages, 4 figure

Entropy-Production-Rate-Preserving Algorithms for Thermodynamically Consistent Nonisothermal Models of Incompressible Binary Fluids

We derive a thermodynamically consistent, non-isothermal, hydrodynamic model for incompressible binary fluids following the generalized Onsager principle and Boussinesq approximation. This model preserves not only the volume of each fluid phase but also the positive entropy production rate under thermodynamically consistent boundary conditions. Guided by the thermodynamical consistency of the model, a set of second order structure-preserving numerical algorithms are devised to solve the governing partial differential equations along with consistent boundary conditions in the model, which preserve the entropy production rate as well as the volume of each fluid phase at the discrete level. Several numerical simulations are carried out using an efficient adaptive time-stepping strategy based on one of the structure-preserving schemes to simulate the Rayleigh-B\'{e}nard convection in the binary fluid and interfacial dynamics between two immiscible fluids under competing effects of the temperature gradient, gravity, and interfacial forces. Roll cell patterns and thermally induced mixing of binary fluids are observed in a rectangular region with insulated lateral boundaries and vertical ones with imposed temperature difference. Long time simulations of interfacial dynamics are performed demonstrating robust results of new structure-preserving schemes

Accelerated Light Dark Matter-Earth Inelastic Scattering in Direct Detection

The Earth-stopping effect plays a crucial role in the direct detection of sub-GeV dark matter. Besides the elastic scattering process, the quasi-elastic and deep inelastic scatterings between dark matter and nucleus that are usually neglected can dominate the interaction, especially in the accelerated dark matter scenarios, which may affect the dark matter detection sensitivity significantly for the underground experiments. We calculate such inelastic scattering contributions in the Earth-stopping effect and illustrate the essence of our argument with the atmospheric dark matter. With the available data, we find that the resulting upper limits on the atmospheric dark matter-nucleus scattering cross-section can differ from those only considering the elastic scattering process by one order of magnitude.Comment: 7 pages, 4 figure

Spin-dependent sub-GeV Inelastic Dark Matter-electron scattering and Migdal effect: (I). Velocity Independent Operator

The ionization signal provide an important avenue of detecting light dark matter. In this work, we consider the sub-GeV inelastic dark matter and use the non-relativistic effective field theory (NR-EFT) to derive the constraints on the spin-dependent DM-electron scattering and DM-nucleus Migdal scattering. Since the recoil electron spectrum of sub-GeV DM is sensitive to tails of galactic DM velocity distributions, we also compare the bounds on corresponding scattering cross sections in Tsallis, Empirical and standard halo models. With the XENON1T data, we find that the exclusion limits of the DM-proton/neutron and DM-electron scattering cross sections for exothermic inelastic DM are much stronger that those for the endothermic inelastic DM. Each limits of the endothermic inelastic DM can differ by an order of magnitude at most in three considered DM velocity distributions.Comment: 36 pages, 7 figure

Interpreting the WW mass anomaly in the vectorlike quark models

The new measurement of $W$-boson mass from the CDF collaboration depicts a remarkable $7\sigma$ disagreement with the Standard Model (SM) prediction. This highly implies that there exist new particles or fields beyond the SM. In this work, we explore the possibility of explaining the $W$ mass anomaly in the simple extension of the SM with the vector-like quarks. Confronting with the current LHC data and the electroweak precision measurements, we find that the vector-like quark models can reconcile SM theory with the $W$ mass anomaly