Is “Follow the Customer” an Entry Strategy Aboard?

Our paper tries to verify the relation between international banks’ expansion and international automotive corporations’ overseas business in China. Pervasive phenomena indicate that foreign banks take following their clients as the initial strategy when they start overseas business in China’s market. As many previous literatures analyzed, in the beginning stage in a new foreign market, multinational banks adopted this passive strategy and intended to follow some manufacturing enterprises from their home countries. The Chinese automotive sector is a touchstone of opening to foreign investors since the reform in China. It also gradually becomes an important tie for foreign banks’ overseas business. On one hand the multinational banks can afford capital support and financial service for their home country customers. On the other hand they can reduce the risk of expanding into a new market and prepare for grow up at an appropriate time. To achieve our purpose, we study the factors on foreign banks’ entry from host country level. We built the OLS regression on total foreign banks assets and added the total asset of the foreign automobile companies and total trade volume in auto sector as independent variables in order to research this relationship. From our analysis, the multinational banks are proved to follow their customers - foreign automobile companies to some extent

A Computationally Efficient Bi-level Coordination Framework for CAVs at Unsignalized Intersections

In this paper, we investigate cooperative vehicle coordination for connected and automated vehicles (CAVs) at unsignalized intersections. To support high traffic throughput while reducing computational complexity, we present a novel collision region model and decompose the optimal coordination problem into two sub-problems: \textit{centralized} priority scheduling and \textit{distributed} trajectory planning. Then, we propose a bi-level coordination framework which includes: (i) a Monte Carlo Tree Search (MCTS)-based high-level priority scheduler aims to find high-quality passing orders to maximize traffic throughput, and (ii) a priority-based low-level trajectory planner that generates optimal collision-free control inputs. Simulation results demonstrate that our bi-level strategy achieves near-optimal coordination performance, comparable to state-of-the-art centralized strategies, and significantly outperform the traffic signal control systems in terms of traffic throughput. Moreover, our approach exhibits good scalability, with computational complexity scaling linearly with the number of vehicles. Video demonstrations can be found online at \url{https://youtu.be/WYAKFMNnQfs}

Position: reinforcement learning in dynamic treatment regimes needs critical reexamination

In the rapidly changing healthcare landscape, the implementation of offline reinforcement learning (RL) in dynamic treatment regimes (DTRs) presents a mix of unprecedented opportunities and challenges. This position paper offers a critical examination of the current status of offline RL in the context of DTRs. We argue for a reassessment of applying RL in DTRs, citing concerns such as inconsistent and potentially inconclusive evaluation metrics, the absence of naive and supervised learning baselines, and the diverse choice of RL formulation in existing research. Through a case study with more than 17,000 evaluation experiments using a publicly available Sepsis dataset, we demonstrate that the performance of RL algorithms can significantly vary with changes in evaluation metrics and Markov Decision Process (MDP) formulations. Surprisingly, it is observed that in some instances, RL algorithms can be surpassed by random baselines subjected to policy evaluation methods and reward design. This calls for more careful policy evaluation and algorithm development in future DTR works. Additionally, we discussed potential enhancements toward more reliable development of RL-based dynamic treatment regimes and invited further discussion within the community. Code is available at https://github.com/GilesLuo/ReassessDTR

Enhancing JPEG Steganography using Iterative Adversarial Examples

Convolutional Neural Networks (CNN) based methods have significantly improved the performance of image steganalysis compared with conventional ones based on hand-crafted features. However, many existing literatures on computer vision have pointed out that those effective CNN-based methods can be easily fooled by adversarial examples. In this paper, we propose a novel steganography framework based on adversarial example in an iterative manner. The proposed framework first starts from an existing embedding cost, such as J-UNIWARD in this work, and then updates the cost iteratively based on adversarial examples derived from a series of steganalytic networks until achieving satisfactory results. We carefully analyze two important factors that would affect the security performance of the proposed framework, i.e. the percentage of selected gradients with larger amplitude and the adversarial intensity to modify embedding cost. The experimental results evaluated on three modern steganalytic models, including GFR, SCA-GFR and SRNet, show that the proposed framework is very promising to enhance the security performances of JPEG steganography