Dongning Sun

Jianzhi Yan, Le Liu, Buzhou Tang et al.

Large language models (LLMs) have achieved substantial advances in logical reasoning, yet they continue to lag behind human-level performance. In-context learning provides a viable solution that boosts the model's performance via prompting its input with expert-curated, in-domain exemplars. However, in many real-world, expertise-scarce domains, such as low-resource scientific disciplines, emerging biomedical subfields, or niche legal jurisdictions, such high-quality in-domain demonstrations are inherently limited or entirely unavailable, thereby constraining the general applicability of these approaches. To mitigate this limitation, recent efforts have explored the retrieval of cross-domain samples as surrogate in-context demonstrations. Nevertheless, the resulting gains remain modest. This is largely attributable to the pronounced domain shift between source and target distributions, which impedes the model's ability to effectively identify and exploit underlying shared structures or latent reasoning patterns. Consequently, when relying solely on raw textual prompting, LLMs struggle to abstract and transfer such cross-domain knowledge in a robust and systematic manner. To address these issues, we propose CoDA, which employs a lightweight adapter to directly intervene in the intermediate hidden states. By combining feature-based distillation of CoT-enriched reference representations with Maximum Mean Discrepancy (MMD) for kernelized distribution matching, our method aligns the latent reasoning representation of the source and target domains. Extensive experimental results on multiple logical reasoning tasks across various model families validate the efficacy of CoDA by significantly outperforming the previous state-of-the-art baselines by a large margin.

Mingxi Zou, Jiaxiang Chen, Aotian Luo et al.

Conventional financial strategy evaluation relies on isolated backtests in static environments. Such evaluations assess each policy independently, overlook correlations and interactions, and fail to explain why strategies ultimately persist or vanish in evolving markets. We shift to an ecological perspective, where trading strategies are modeled as adaptive agents that interact and learn within a shared market. Instead of proposing a new strategy, we present FinEvo, an ecological game formalism for studying the evolutionary dynamics of multi-agent financial strategies. At the individual level, heterogeneous ML-based traders-rule-based, deep learning, reinforcement learning, and large language model (LLM) agents-adapt using signals such as historical prices and external news. At the population level, strategy distributions evolve through three designed mechanisms-selection, innovation, and environmental perturbation-capturing the dynamic forces of real markets. Together, these two layers of adaptation link evolutionary game theory with modern learning dynamics, providing a principled environment for studying strategic behavior. Experiments with external shocks and real-world news streams show that FinEvo is both stable for reproducibility and expressive in revealing context-dependent outcomes. Strategies may dominate, collapse, or form coalitions depending on their competitors-patterns invisible to static backtests. By reframing strategy evaluation as an ecological game formalism, FinEvo provides a unified, mechanism-level protocol for analyzing robustness, adaptation, and emergent dynamics in multi-agent financial markets, and may offer a means to explore the potential impact of macroeconomic policies and financial regulations on price evolution and equilibrium.

Tianlin Li, Yunxiang Wei, Zhiming Li et al.

Recent advances in code large language models (CodeLLMs) have made them indispensable tools in modern software engineering. However, these models occasionally produce outputs that contain proprietary or sensitive code snippets, raising concerns about potential non-compliant use of training data, and posing risks to privacy and intellectual property. To ensure responsible and compliant deployment of CodeLLMs, training data detection (TDD) has become a critical task. While recent TDD methods have shown promise in natural language settings, their effectiveness on code data remains largely underexplored. This gap is particularly important given code's structured syntax and distinct similarity criteria compared to natural language. To address this, we conduct a comprehensive empirical study of seven state-of-the-art TDD methods on source code data, evaluating their performance across eight CodeLLMs. To support this evaluation, we introduce CodeSnitch, a function-level benchmark dataset comprising 9,000 code samples in three programming languages, each explicitly labeled as either included or excluded from CodeLLM training. Beyond evaluation on the original CodeSnitch, we design targeted mutation strategies to test the robustness of TDD methods under three distinct settings. These mutation strategies are grounded in the well-established Type-1 to Type-4 code clone detection taxonomy. Our study provides a systematic assessment of current TDD techniques for code and offers insights to guide the development of more effective and robust detection methods in the future.

Jiaxiang Chen, Mingxi Zou, Zhuo Wang et al.

Financial decision-making presents unique challenges for language models, demanding temporal reasoning, adaptive risk assessment, and responsiveness to dynamic events. While large language models (LLMs) show strong general reasoning capabilities, they often fail to capture behavioral patterns central to human financial decisions-such as expert reliance under information asymmetry, loss-averse sensitivity, and feedback-driven temporal adjustment. We propose FinHEAR, a multi-agent framework for Human Expertise and Adaptive Risk-aware reasoning. FinHEAR orchestrates specialized LLM-based agents to analyze historical trends, interpret current events, and retrieve expert-informed precedents within an event-centric pipeline. Grounded in behavioral economics, it incorporates expert-guided retrieval, confidence-adjusted position sizing, and outcome-based refinement to enhance interpretability and robustness. Empirical results on curated financial datasets show that FinHEAR consistently outperforms strong baselines across trend prediction and trading tasks, achieving higher accuracy and better risk-adjusted returns.

Junzhe Jiang, Chang Yang, Aixin Cui et al.

Financial tasks are pivotal to global economic stability; however, their execution faces challenges including labor intensive processes, low error tolerance, data fragmentation, and tool limitations. Although large language models (LLMs) have succeeded in various natural language processing tasks and have shown potential in automating workflows through reasoning and contextual understanding, current benchmarks for evaluating LLMs in finance lack sufficient domain-specific data, have simplistic task design, and incomplete evaluation frameworks. To address these gaps, this article presents FinMaster, a comprehensive financial benchmark designed to systematically assess the capabilities of LLM in financial literacy, accounting, auditing, and consulting. Specifically, FinMaster comprises three main modules: i) FinSim, which builds simulators that generate synthetic, privacy-compliant financial data for companies to replicate market dynamics; ii) FinSuite, which provides tasks in core financial domains, spanning 183 tasks of various types and difficulty levels; and iii) FinEval, which develops a unified interface for evaluation. Extensive experiments over state-of-the-art LLMs reveal critical capability gaps in financial reasoning, with accuracy dropping from over 90% on basic tasks to merely 40% on complex scenarios requiring multi-step reasoning. This degradation exhibits the propagation of computational errors, where single-metric calculations initially demonstrating 58% accuracy decreased to 37% in multimetric scenarios. To the best of our knowledge, FinMaster is the first benchmark that covers full-pipeline financial workflows with challenging tasks. We hope that FinMaster can bridge the gap between research and industry practitioners, driving the adoption of LLMs in real-world financial practices to enhance efficiency and accuracy.