Inaugural issue · 30 October 2026
Seven articles on technological change, financial institutions, climate exposure and volatility methods.
Contents
Research article · pp. 1-16
The Half-Life of a Futures Contract: Technological Obsolescence and Vintage Risk in Compute Derivatives
Fuli Yang
Read article PDF →Research article · pp. 17-29
When Scale Outruns Fees: The Scale–Fee-Density Paradox in China’s Trust Industry
Fuli Yang
Read article PDF →Research article · pp. 30-46
From Disclosure to Resilience: Climate-Risk Transmission Frictions in China’s Corporate Bond Market
Fuli Yang, Shiyu Lin
Read article PDF →Research article · pp. 47-65
Trust as Resolution Infrastructure: Value Preservation, Creditor Coordination, and Bankruptcy Service Trusts in China
Fuli Yang
Read article PDF →Research article · pp. 66-87
Regime Splits Are Not Interaction Tests: Spurious Amplification in Mixed-Frequency Volatility Models
Fuli Yang
Read article PDF →Research article · pp. 88-103
Unknown Is Not Zero: Heat Stress, Data-Center Power-Demand Exposure, and Utility Volatility
Fuli Yang
Read article PDF →Research article · pp. 104-112
Factor Covariance in Yield-Curve Risk Forecasts: Evidence from U.S. Treasury Yields
Fuli Yang, Shiyu Lin
Read article PDF →