Based on Bourdieu's 'capital-field-habitus’ theoretical framework, this paper conducts a secondary analysis of three empirical studies in the Chinese educational context to illustrate how family cultural capital influences students' academic performance through academic habitus. The results show that there is a stable positive relationship between family cultural capital and academic performance, which is not mainly achieved in a direct way, but through the formation of habitus habits that are consistent with the school assessment rules, which are further manifested in sustained learning behaviours, and finally transformed into academic strengths. In the test score-centred Chinese educational environment, learning habits play a key mediating role in the transformation of cultural capital into academic performance, and the differences in the intensity of the role in different studies are related to differences in educational stages and research designs, and reflect the process by which the educational evaluation mechanism and the structure of learning practices jointly influence the path of capital transformation.

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This paper explores the role, risks, and standardized development paths of shadow financing as an alternative financing channel for small and medium - sized enterprises (SMEs) in China. Through literature research, case analysis, and data analysis, it reveals the positive effects of shadow financing in expanding financing channels, meeting diverse needs, and improving financing efficiency. At the same time, it also points out potential problems such as high financing costs, regulatory arbitrage, and systemic risks. The research shows that shadow financing plays an important role in alleviating the financing difficulties of SMEs. The government really has to guide and regulate the financing of small, medium and micro enterprises. Our top priority now is to strengthen the regulatory framework first - the laws and regulations that should be supplemented should be made up quickly, and the regulatory loopholes should be blocked in time. However, don't patronize control. Financial innovation should be encouraged. The key is to find a good balance between innovation and risk prevention and control. Don't make it difficult for enterprises to finance, and don't let the financial market lay mines. To put it bluntly, this research wants to give the regulatory department a trick, not only to allow small, medium and micro enterprises to get money and develop smoothly, but also to ensure that the whole financial market is as stable as an old dog. To put it bluntly, it is a win-win plan.

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This work concentrated on the consumer behavior of luxury purchasing in post-pandemic era, especially the change of preferences/attitudes toward luxury goods related to the explosion of COVID-19. Data were collected from comments of top-rated YouTube videos of luxury unboxing/shopping and were analyzed via MDCOR. The result suggests that the purchasing will to luxury goods have generally elevated after COVID-19 explosion and pointed out several subtle elements that could further improve consumers’ favor. With best hope, the work could serve as a starting point for future studies in the area and provide meaningful improvement suggestions to luxury manufacturers in their future advertising strategies, and offer referential information for even advertisers in other areas.

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This research mainly focuses on the crucial role of investor sentiment in the changes of asset pricing, especially its influence on risk arbitrage and market behavior. We know that both behavioral finance theory and empirical evidence are of great significance. The research combines them to see how investor biases, such as being overly optimistic or pessimistic, cause asset pricing errors and make the market unstable. To study this, we used some widely recognized sentiment indicators, such as the AAII Sentiment Survey, the VIX (Volatility Index), and the Composite Sentiment Index. Through these indicators, we examined the relationship between irrational investor behavior and pricing anomalies. The outcomes demonstrate the distinctively substantial impact that investor sentiment wields on risk arbitrage techniques, especially during market events like mergers and acquisitions. When speculative sentiment takes hold, people tend to overreact, leading to incorrect asset pricing. Moreover, the research also indicates that when investor sentiment is low, stocks with small size, short establishment time, and high volatility actually have higher returns. This suggests that sentiment is helpful for predicting stock returns. We added the sentiment indicators to the traditional asset pricing model, which enables us to better understand market changes and optimize risk arbitrage strategies. In conclusion, the research results tell us that considering the perspective of behavioral finance is very important when conducting financial analysis. This can provide useful methods for investors and policymakers to deal with market problems caused by investor sentiment.

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