A multitude of interconnected risk events -- ranging from regulatory changes to geopolitical tensions -- can trigger ripple effects across firms. Identifying inter-firm risk relations is thus crucial for applications like portfolio management and investment strategy. Traditionally, such assessments rely on expert judgment and manual analysis, which are, however, subjective, labor-intensive, and difficult to scale. To address this, we propose a systematic method for extracting inter-firm risk relations using Form 10-K filings -- authoritative, standardized financial documents -- as our data source. Leveraging recent advances in natural language processing, our approach captures implicit and abstract risk connections through unsupervised fine-tuning based on chronological and lexical patterns in the filings. This enables the development of a domain-specific financial encoder with a deeper contextual understanding and introduces a quantitative risk relation score for transparency, interpretable analysis. Extensive experiments demonstrate that our method outperforms strong baselines across multiple evaluation settings. Our codes are available at https://github.com/cnclabs/codes.fin.relation.

The current RAG system requires uploading plaintext documents to the cloud, risking private data leakage. Parametric RAG (PRAG) encodes documents as LoRA parameters within LLMs, offering a possible way to reduce exposure of raw content. However, it still faces two issues: (1) PRAG demands synthesizing QA pairs and fine-tuning LLM for each individual document to create its corresponding LoRA, leading to unacceptable inference latency. (2) The performance of PRAG relies solely on synthetic QA data while lacking internal alignment with standard RAG, resulting in poor generalization on out-of-distribution(OOD) inputs. Therefore, achieving high-efficiency parameterization while maintaining RAG-level performance remains a critical challenge for privacy-preserving reasoning. In this paper, we propose DistilledPRAG, a generalizable knowledge-distilled parametric RAG model aligned with standard RAG in document structure and parameter activation. We first synthesize QA pairs from single and multi-documents to enhance cross-document reasoning. Then, we mask the plaintext documents with a special token and translate them to LoRA via a parameter generator, maintaining the standard RAG document structure. Finally, guided by synthetic QA data, we train the parameter generator to match standard RAG's hidden states and output logits, enabling RAG-style reasoning without original documents. Experiments on four QA datasets show that DistilledPRAG outperforms baselines in accuracy and generalizes well on OOD data.

Large language models are trained with tokenizers, and the resulting token distribution is highly imbalanced: a few words dominate the stream while most occur rarely. Recent practice favors ever-larger vocabularies, but it is unclear where the benefit comes from. To this end, we perform a controlled study that scales the vocabulary of the language model from 24K to 196K while holding data, computation, and optimization unchanged. We begin by quantifying the complexity of tokenized text -- formalized via Kolmogorov complexity -- and show that larger vocabularies reduce this complexity. Above 24K, every common word is already tokenized as a single token, so enlarging vocabulary only deepens the relative token-frequency imbalance. Word-level loss decomposition shows that larger vocabularies reduce cross-entropy loss almost exclusively by lowering uncertainty on the 2,500 most frequent words, even though loss on the rare tail rises. The same frequent words cover roughly 75% of tokens in downstream benchmarks, so this training advantage transfers intact. We further show that enlarging model parameters with a fixed vocabulary yields the same frequent-word benefit. Our results recast "bigger vocabularies help" as "lowering complexity of tokenized text helps," offering a simple, principled knob for tokenizer-model co-design and clarifying the loss dynamics that govern language model scaling in pre-training.

Augmented Reality (AR) enriches human perception by overlaying virtual elements onto the physical world. However, this tight coupling between virtual and real content makes AR vulnerable to cognitive attacks: manipulations that distort users' semantic understanding of the environment. Existing detection methods largely focus on visual inconsistencies at the pixel or image level, offering limited semantic reasoning or interpretability. To address these limitations, we introduce CADAR, a neuro-symbolic framework for cognitive attack detection in AR that integrates neural and symbolic reasoning. CADAR fuses multimodal vision-language representations from pre-trained models into a perception graph that captures objects, relations, and temporal contextual salience. Building on this structure, a particle-filter-based statistical reasoning module infers anomalies in semantic dynamics to reveal cognitive attacks. This combination provides both the adaptability of modern vision-language models and the interpretability of probabilistic symbolic reasoning. Preliminary experiments on an AR cognitive-attack dataset demonstrate consistent advantages over existing approaches, highlighting the potential of neuro-symbolic methods for robust and interpretable AR security.

Trained on various human-authored corpora, Large Language Models (LLMs) have demonstrated a certain capability of reflecting specific human-like traits (e.g., personality or values) by prompting, benefiting applications like personalized LLMs and social simulations. However, existing methods suffer from the superficial elicitation problem: LLMs can only be steered to mimic shallow and unstable stylistic patterns, failing to embody the desired traits precisely and consistently across diverse tasks like humans. To address this challenge, we propose IROTE, a novel in-context method for stable and transferable trait elicitation. Drawing on psychological theories suggesting that traits are formed through identity-related reflection, our method automatically generates and optimizes a textual self-reflection within prompts, which comprises self-perceived experience, to stimulate LLMs' trait-driven behavior. The optimization is performed by iteratively maximizing an information-theoretic objective that enhances the connections between LLMs' behavior and the target trait, while reducing noisy redundancy in reflection without any fine-tuning, leading to evocative and compact trait reflection. Extensive experiments across three human trait systems manifest that one single IROTE-generated self-reflection can induce LLMs' stable impersonation of the target trait across diverse downstream tasks beyond simple questionnaire answering, consistently outperforming existing strong baselines.

Despite Multimodal Large Language Models (MLLMs) having shown impressive capabilities, they may suffer from hallucinations. Empirically, we find that MLLMs attend disproportionately to task-irrelevant background regions compared with text-only LLMs, implying spurious background-answer correlations. W e claim and analyze that (i) outcome-based rewards can be an important factor leading to spurious correlations, and (ii) spurious correlations can be an important factor leading to hallucinations. Based on these results, we propose Causal-Oriented Policy Optimization (COPO) to mitigate these spurious correlations, thus addressing the issue of hallucinations. It imposes token-level sufficiency and necessity constraints to measure each inference token's causal contribution, thus ensuring correct and evidence-grounded output. Specifically, we first evaluate each token's causal contribution via a newly proposed causal completeness reward. This reward is then used to construct a causally informed advantage function within the GRPO optimization framework, encouraging the model to focus on tokens that are causally sufficient and necessary for accurate generation. Experimental results across various benchmarks demonstrate the advantages of COPO.

Large Language Models (LLMs) have demonstrated strong performance across a wide range of tasks, yet they still struggle with complex mathematical reasoning, a challenge fundamentally rooted in deep structural dependencies. To address this challenge, we propose \textbf{CA}usal \textbf{MA}thematician (\textbf{CAMA}), a two-stage causal framework that equips LLMs with explicit, reusable mathematical structure. In the learning stage, CAMA first constructs the \textbf{M}athematical \textbf{C}ausal \textbf{G}raph (\textbf{MCG}), a high-level representation of solution strategies, by combining LLM priors with causal discovery algorithms applied to a corpus of question-solution pairs. The resulting MCG encodes essential knowledge points and their causal dependencies. To better align the graph with downstream reasoning tasks, CAMA further refines the MCG through iterative feedback derived from a selected subset of the question-solution pairs. In the reasoning stage, given a new question, CAMA dynamically extracts a task-relevant subgraph from the MCG, conditioned on both the question content and the LLM's intermediate reasoning trace. This subgraph, which encodes the most pertinent knowledge points and their causal dependencies, is then injected back into the LLM to guide its reasoning process. Empirical results on real-world datasets show that CAMA significantly improves LLM performance on challenging mathematical problems. Furthermore, our experiments demonstrate that structured guidance consistently outperforms unstructured alternatives, and that incorporating asymmetric causal relationships yields greater improvements than using symmetric associations alone.

Vision-language models (VLMs) have exhibited impressive capabilities across diverse image understanding tasks, but still struggle in settings that require reasoning over extended sequences of camera frames from a video. This limits their utility in embodied settings, which require reasoning over long frame sequences from a continuous stream of visual input at each moment of a task attempt. To address this limitation, we propose ROVER (Reasoning Over VidEo Recursively), a framework that enables the model to recursively decompose long-horizon video trajectories into segments corresponding to shorter subtasks within the trajectory. In doing so, ROVER facilitates more focused and accurate reasoning over temporally localized frame sequences without losing global context. We evaluate ROVER, implemented using an in-context learning approach, on diverse OpenX Embodiment videos and on a new dataset derived from RoboCasa that consists of 543 videos showing both expert and perturbed non-expert trajectories across 27 robotic manipulation tasks. ROVER outperforms strong baselines across three video reasoning tasks: task progress estimation, frame-level natural language reasoning, and video question answering. We observe that, by reducing the number of frames the model reasons over at each timestep, ROVER mitigates hallucinations, especially during unexpected or non-optimal moments of a trajectory. In addition, by enabling the implementation of a subtask-specific sliding context window, ROVER's time complexity scales linearly with video length, an asymptotic improvement over baselines. Demos, code, and data available at: https://rover-vlm.github.io

The computational cost of training multimodal large language models (MLLMs) grows rapidly with the number of processed tokens. Existing efficiency methods mainly target inference via token reduction or merging, offering limited benefits during training. We introduce ReGATE (Reference-Guided Adaptive Token Elision), an adaptive token pruning method for accelerating MLLM training. ReGATE adopts a teacher-student framework, in which a frozen teacher LLM provides per-token guidance losses that are fused with an exponential moving average of the student's difficulty estimates. This adaptive scoring mechanism dynamically selects informative tokens while skipping redundant ones in the forward pass, substantially reducing computation without altering the model architecture. Across three representative MLLMs, ReGATE matches the peak accuracy of standard training on MVBench up to 2$\times$ faster, using only 38% of the tokens. With extended training, it even surpasses the baseline across multiple multimodal benchmarks, cutting total token usage by over 41%. Code and models will be released publicly.

Large language models (LLMs) exhibit increasingly sophisticated linguistic capabilities, yet the extent to which these behaviors reflect human-like cognition versus advanced pattern recognition remains an open question. In this study, we investigate how LLMs process the temporal meaning of linguistic aspect in narratives that were previously used in human studies. Using an Expert-in-the-Loop probing pipeline, we conduct a series of targeted experiments to assess whether LLMs construct semantic representations and pragmatic inferences in a human-like manner. Our findings show that LLMs over-rely on prototypicality, produce inconsistent aspectual judgments, and struggle with causal reasoning derived from aspect, raising concerns about their ability to fully comprehend narratives. These results suggest that LLMs process aspect fundamentally differently from humans and lack robust narrative understanding. Beyond these empirical findings, we develop a standardized experimental framework for the reliable assessment of LLMs' cognitive and linguistic capabilities.