The Impact of Gambling Culture on Entity Financialization
Round 1
Reviewer 1 Report
Comments for author File: 
Comments.pdf
Author Response
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Author Response File: 
Author Response.docx
Reviewer 2 Report
The use of linear regression models in economic analysis has been so extensive and has even covered almost all areas of economics. However, in practice it is not uncommon to encounter imbalances and irregularities as a result of forgetting the basic assumptions of the analytical tool. For example, ignoring the assumption of stationarity which is the basis of econometrics.
Data analysis based on time series data assumes that the data must be stationary. Time series data that is not stationary or has a unit root, its value tends to fluctuate not around the average value, making it difficult to estimate a model. In simple terms, a time series data can be said to be stationary if the mean and variance do not vary systemically over time. If the research data used is not stationary, it will result in the emergence of spurious spurious phenomena or nonsense regression that there is a statistically significant relationship between the dependent and independent variables, while based on theory there should be no significant relationship.
Explain, does this research data meet the stationarity requirements?
Author Response
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Author Response File: Author Response.docx
Reviewer 3 Report
Dear author(s),
After reading your interesting article. The manuscript is necessary to proofreading throughout the paper. There are some questions to be addressed, see my comments below for more details:
General Comments:
1. In Table 1. Variable definitions on page 6, what is the end of year t for Fin Variable?
2. Be caution of some pages, the following paragraph has been documented in extant literature. Such as lines 29-31,49-53,123-124, and 381-383 in p1, p2, p3, p10, respectively.
The prior literature is "The impact of subscribing to directors’ and officers’ liability insurance on corporate financialization: Evidence from China", by Cheng Pen et al., published in Frontier Psychology, 13.2022, https://doi.org/10.3389/fpsyg.2022.986135.
To avoid the suspicion of plagiarism, those paragraphs are necessary to sustainable modification.
3. Some paragraph has the same problem as the previous point 2):
Such as lines 219-222, 318-324, and 352-353 in p5, p7, and p8, respectively.The content connected with the written statement should be reduced repetition rates compared with another published article. e.g., " Analysis of the influence of enterprise managers’ overconfidence on the overinvestment behavior of listed companies under the media reports", by Michael So, published in Frontier Psychology, Published online 2022 Oct 18. doi: 10.3389/fpsyg.2022.1018189
4. In lines 325-332, The“Mean”of …. Should the word be lowercase or not?
5. The connection between your findings and empirical strategies should be further elaborated. That is to say, what guidelines and implications can authors provide to investors/ policy makers based on your empirical findings?
Author Response
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Author Response File: Author Response.docx
Round 2
Reviewer 3 Report
1.The manuscript is necessary to proofreading throughout the manuscript. Such as line 30 in page 1“, the economy in china has been ”.
2.The extensive editing of English language is also necessary.
Author Response
Thank you for your review of this article. Your comments will help us improve the quality of this article. We have proofread the full text, and the modified part of the article has been marked with red font.
