Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

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Volume Info.

  • Title

    Proceedings of the 7th International Conference on Economic Management and Green Development

    Conference Date






    978-1-83558-083-7 (Print)

    978-1-83558-084-4 (Online)

    Published Date



    Canh Thien Dang, King's College London


  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231487

    A Study of Bayesian Quantile Regression for Forecasting RMB Exchange Rates

    Accurate forecasting of the RMB exchange rate is crucial for global financial market participants. This study proposes a Bayesian quantile regression approach to enhance the forecasting method. This paper uses RMB and US dollar exchange rate data from the State Administration of Foreign Exchange from 2018 to 2022 to build a Bayesian quantile regression model and empirically analyze the RMB exchange rate forecast. The results show that the proposed Bayesian quantile regression model yields accurate forecasts, with a root mean squared error (RMSE) of 1.8329 and a mean absolute error (MAE) of 1.2988. Furthermore, robustness and sensitivity analyses confirm the model's reliability. The findings of this study have practical implications for financial market participants and policymakers in managing and responding to foreign exchange risk.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231488

    Environmental Regulatory Policy and Economic Development in China: Purpose and Consequence

    Based on the development history of environmental regulation in China and the corresponding economic situation, this paper discusses whether environmental regulation policies in northeast, southwest and central China are conducive to local economic development. The purpose of this paper is to derive appropriate environmental regulatory policies for regions with different economic conditions. The restoration of ecology and the goal of green production in Northeast China have prompted strict environmental protection policies. However, considering the relatively backward level of local economic development, environmental regulation policies should be relaxed appropriately to give way to economic development. However, Southwest China has a serious ecological destruction problem. The implementation of environmental policies can help Southwest China achieve technological innovation, scientific and technological development and economic growth. Therefore, relatively strict environmental regulation policies should be adopted. Central China has a relatively high level of economic development, but there are also problems such as low resource utilization rate. Therefore, strict environmental policies should be adopted accordingly to promote Central China to improve resource utilization rate, production efficiency and technological innovation, so as to promote economic growth.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231489

    Star Creation, KPOP, and Korean Economy: A Case Study

    The global success of KPOP this year has had a positive impact on the Korean economy. The importance of KPOP to Korea was determined by analyzing the operation of KPOP and the revenue generated by KPOP idols. With the development of network technology, KPOP is spreading more and more widely. It has not only achieved success and popularity in Asian countries, but also in Europe and America. KPOP successfully opened the world market. As the most popular Korean idol group in Europe and the United States, BTS has generated considerable economic profits for Korea. BTS s concert revenue is expected to exceed that of the Pyeongchang Winter Olympics. Along with the opening of the global market, KPOP has also boosted the economy of South Korea, attracting tourists from all over the world to visit the country and promoting the local culture. It attracts teenagers and girls from all over the world to follow the trend of Korean culture.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231490

    Study on the Impact of Employee Compensation and Benefits System on Employee Innovation and Optimization Strategy

    The most direct and practical of the many incentive programs is compensation incentive, particularly total compensation incentive, which also has a high operability. Nevertheless, it is also constrained by the enterprise's overall viability and the cost of its human resources. More remuneration satisfaction does not always translate into better business performance; further research is needed to understand how it works. On the basis of an analysis of local and foreign research data, this paper investigates the connection between employee innovation performance and remuneration satisfaction. It also introduces work engagement as a mediating variable along the path of compensation satisfaction - work engagement - innovation performance. It has been established via empirical study and data analysis that employees' contentment with their salary and related factors can positively impact the link between that relationship and their innovation performance. It demonstrates that following the introduction of the new work engagement perspective, compensation management satisfaction affects innovation performance indirectly through the influence of work engagement. Through the in-depth exploration of its influence mechanism, it offers some guidance for the related enterprises to design the compensation system scientifically to motivate the innovation ability of employees and complements and improves the related theory.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231491

    Research on Strategic Transformation and Management Innovation of China Merchants Bank

    This paper will study China Merchants Bank, the first joint-stock commercial bank wholly owned by corporate legal persons in China, and its 36 years of operation and development in Shekou, Shenzhen, a pioneering city in China, in the environment of China’s reform and opening up, in the era of China’s rapid economic take-off. To study its growth process from a small bank with a capital of only 100-million-yuan, one branch, and more than 30 employees to an international banking group with more than 1,800 branches and 100,000 employees, which British magazine Banker announced as the 11th bank in the world in 2022 and won the title of Best Employer for 14 consecutive years. Explore the key factors in the success process of a bank or even an enterprise and deduce the most valuable leadership genes for the enterprise and the team in order to help more people find the direction to develop their leadership and the password to run an enterprise or manage a team effectively.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231492

    Financial Analysis on Air China Limited

    The outbreak of COVID-19 has caused a significant decline in the aviation service industry's operating conditions due to the decrease in people's travel volume. This study conducts a fundamental performance analysis of Air China, in comparison with China Southern and China Eastern Airlines, using critical accounting analysis and data disclosed in the 2021 annual financial statements. The analysis includes liquidity, solvency, efficiency, and return on investments, providing a measurement of the potential of Air China in the Chinese civil aviation industry in the post-pandemic era. The study provides suggestions for investors based on the value of Air China. The results of the analysis show that Air China has maintained good liquidity with a current ratio of 0.51, indicating that the company can meet its short-term liabilities. Solvency analysis indicates that the company has a debt-to-equity ratio of 1.05, which is lower than China Southern and China Eastern Airlines, indicating that Air China has less financial risk. The efficiency analysis shows that Air China has a better asset turnover ratio than its peers, indicating better management of its assets. Return on investment analysis indicates that Air China has a better return on equity than other two competitors, indicating a higher potential for investor returns. Overall, the study suggests that Air China has the potential to perform well in the Chinese civil aviation industry in the post-pandemic era. Investors should consider Air China as a viable investment option, given its good liquidity, solvency, efficiency, and return on investment.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231496

    Risk Management in the Banking Sector During the COVID-19 Crisis: Challenges & Responses

    The COVID-19 pandemic has significantly impacted the banking sector worldwide, exposing vulnerabilities and leading to the collapse of major banks, such as Silicon Valley Bank, Signature Bank, First Republic Bank, and Credit Suisse. Concerns about a potential systemic banking crisis have been sparked by the circumstance, which also emphasizes the necessity for risk management techniques to change with the times in order to handle key risks in the banking industry, such as credit, liquidity, market, and systemic risks. This study intends to look into how the COVID-19 epidemic affected risks in the banking industry and how banks responded. According to the findings, the pandemic has increased market, credit, and liquidity risk as well as systemic risk due to the interconnection of financial markets and institutions. To address these risks, banks have adopted various measures, such as increasing capital buffers, adjusting lending policies, and enhancing risk management systems. However, the study suggests that risk management tools need to evolve further, and banks need to develop proactive strategies to identify and mitigate potential risks before they become systemic. Banks can increase their resilience to upcoming crises and help to general financial stability by comprehending how the pandemic will affect various risks and implementing proactive risk management techniques.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231498

    The Dynamic Interplay of Market Forces and Human Behavior: A Critical Review of Efficient Market Hypothesis and Behavioral Finance

    This literature review offers a comprehensive examination of the Efficient Market Hypothesis (EMH) and Behavioral Finance, as well as their respective implementations in the realm of stock markets. The EMH asserts that financial markets are efficient and that prices accurately reflect all available information. On the other hand, Behavioral Finance recognizes that individuals often make irrational investment decisions based on cognitive biases and emotions. This article explores the interplay between these theories in different applications, including information and communication technology, the stock market’s efficiency and anomalies, and the Adaptive Markets Hypothesis (AMH). This review suggests that while EMH provides a theoretical framework for understanding the efficiency of financial markets, Behavioral Finance offers valuable perspectives on the constraints of logical decision-making and the impact of human behavior on market results. The Adaptive Market Hypothesis provides a third choice balancing the EMH and Behavior Finance. Overall, the article the paper presents a thorough examination of the EMH, Behavioral Finance, and the AMH, along with their respective implementations in stock markets. It highlights the importance of understanding the interplay between these theories to gain a better understanding of financial markets and make informed investment decisions.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231499

    Marvel Transformation in the Face of the Impact of Short Video Platforms

    This research essay explores how Marvel has transformed its marketing strategies in response to the impact of short video platforms like TikTok and Instagram Reels. With the rise of these platforms, the way content is created and consumed has drastically changed, and companies like Marvel have had to adapt to remain relevant and engaging to their target audience. This research topic is significant as it aims to investigate how Marvel has responded to this change and how effective these responses have been in engaging audiences. The research questions are focused on understanding the impact of short video platforms on Marvel's marketing strategies, the specific changes Marvel has made in response, the effectiveness of these changes, and how Marvel has leveraged its existing fan base on social media platforms to engage with audiences on short video platforms. Through a literature survey method and case analysis, this essay examines key strategies Marvel has implemented, such as embracing short-form content, engaging with fans, experimenting with new formats, and collaborating with influencers. The essay also evaluates Marvel's success in responding to short video platforms, the effectiveness of its strategies, and the impact on its audience and market position.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231500

    The Challenges and Prospects of the Transformers Film Series

    Currently, more and more IPs are being adapted for film and television, such as Marvel's superhero series sweeping the world. Yet one of the hottest products of the last century, Transformers, has been declining in box office and reviews for its live-action films. This study will analyze the problems of this IP adaptation project based on the deteriorating status of the Transformers live-action movie, using a documentary research method, and propose corresponding solutions. Due to the challenges of commercialization, the Transformers live-action movie faces the challenges of losing audiences due to the disconnect with the times and its own lack of excellence to attract audiences. Hasbro can try to explore the game market or follow the example of Marvel and other IP to open a new story, so as to comfortably deal with the commercialization challenges. This study concludes that taking the IP Transformers as an example, IPs tend to fall into the trap of over-commercialization when adapting live-action movies, which ultimately leads to a lack of artistry in the movies themselves.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231501

    Case Study of Bilibili's Marketing Techniques

    In today's era, streaming media is becoming more and more prevalent and dominating the entertainment worldwide. Among them, streaming video platforms are the most popular. Take bilibili for example, it is a video platform that is very hot within China. Although bilibili has been in business for more than a decade and has a regular young user base and brand recognition, there are many issues behind the seemingly smooth sailing that cannot be ignored. These issues include bilibili's positioning, community, video content and finances, all of which have an impact on its operations. As a nascent streaming platform, bilibili has a variety of marketing models as well as marketing tools. This paper will analyze bilibili's marketing model, marketing tools and strategies using the SWOT and 4P models, and make decisions about the problems the company is experiencing. After analyzing according to various models, bilibili's marketing means is mainly to serve the Z-era crowd as the main target group, and for the characteristics of the Z-era crowd, users can access user-generated content on B station, and the platform also includes a close-knit community. These two locations will be used by B station in an effort to monetize and profit from the traffic. And bilibili attracts the love of fixed groups with its unique secondary yuan-oriented style, achieving a long-lasting emotional maintenance with core users.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231505

    The Research of How the Marketing Strategy of Tiktok Result in the New Rise of E-commerce

    Internet technology is developing,which makes many economic activities take place online and gives birth to many globally popular short video apps, especially Tiktok.It has become a household name. For this reason, marketing strategies of Tiktok are worth to be discussed. Many existing researches are only discussing why Tiktok can be so popular but the author found that medium can be contacted with economics. Digital economics is an important title of this age. Tiktock actually set a great platform for e-commerce and it does help e-commerce get into a new stage. So the paper mainly focus on how the marketing strategy of Tiktok result in the new rise of e-commerce by using SWOT analytical method. Analyzing the pros and cons from strengths, weakness, opportunities and threats. The paper finally found that Tiktok gives e-commerce an extremely great chance to develop on the whole. And also there are some inevitable shortcomings about e-commerce developing on Tiktok. Then the paper also gives some advice to improve the situation.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231511

    Study of the Applications of Alternative Data in the Field of Economics and Finance

    The term "alternative data" sometimes known as alternative data or non-traditional data, is most often used to describe regionally specific, valuable information that is distinct from typical financial data. Alternative data does not require a specialized data network or administration and may be collected and processed in real time. As a result, "alternative data" has quickly evolved in the financial sector in recent years. "Alternative data" is a well-known illustration of "big" data since, to start, it's enormously large in quantity as shown by its scope and transmission. The second element is the real-time or very close-to-real-time nature of the data collection and transmission. Data types and data structures come in a huge diversity, which is the third component. This paper studies the different classifications and acquisition methods of alternative data, focusing on the different applications of alternative data in the economic and financial fields, respectively, the application of alternative data in forecasting, especially in macro-economic forecasting and user income forecasting, and the application of alternative data in capital markets, business analysis and decision-making.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231513

    Retail Supply Chain Systems Analysis: A Case of Walmart

    Walmart is one of the largest retailers in the world, and its supply chain system is affected. Through the analysis of Walmart's business and technology, this paper discusses the reasons for Walmart's success. The success of Walmart's supply chain system must be connected to its efficient logistics system, advanced information technology, and close cooperation. Analyzing Walmart's information-based logistics supply chain relationships highlights the importance of data sharing, automation, and optimization in improving operational efficiency, customer experience, cost reduction, brand management, and employee productivity. To improve competitiveness and meet customer needs, this study provides insights for local retailers in China. The study concludes with a summary of the research findings. The study concludes by summarizing the research findings, discussing its limitations, and suggesting future research directions.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231515

    Blockchain Application in Financial Shared Service Centers for Multinational Enterprises

    The flourishing digital economy in recent years urges the expanding multinational enterprises to transform financial management. To accomplish efficient operation and effective allocation of internal funds, many multinational enterprises worldwide have established a financial shared service center, shortened as FSSC. Based on the literature review, this thesis summarizes existing problems in FSSC of multinational enterprises, such as information asymmetry, data security that cannot be ensured, high labor cost, and low efficiency of accounting business processing. Then the author proposes the application of blockchain in solving these issues and takes Haier as an example to provide feasible methods of optimizing its financial shared service center with the advantages of blockchain.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231516

    The Impact of Enterprise Digital Transformation on Consumers in the Big Data Era

    In the last decade, the worldwide production of data has reached 64.2 zettabytes, indicating that consumers around the world are entering an era dominated by big data. Many enterprises have begun to apply digital transformation strategies to their businesses as they see the bright future of the benefits that the application of big data can bring. Consequently, consumers worldwide have been greatly influenced by the growing number of digital transformation companies. This research will be processed by interviewing 30 people in groups, Group1, Group2, and Group 3. They discuss and analyze the various impacts of enterprises’ digital transformation on consumers by applying pie charts. By interviewing 30 people in three different groups, there is a more positive impact of digital transformation.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231517

    Improving Marketing Strategies through Big Data: Analysis and Countermeasures

    The rapid development of big data technology in recent years has profoundly impacted all industries, including the marketing sector. As the internet has become increasingly ubiqui-tous, consumer behavior is being increasingly recorded digitally. The critical role of mar-keting in enterprise development is accentuated by the emergence of big data as a driving force in contemporary societal progression. To optimize marketing strategies, enterprises must analyze their operations within the context of big data, identify the associated oppor-tunities and challenges, and formulate effective marketing approaches. This, in turn, will promote the implementation of strategic marketing plans, laying a robust foundation for sustainable enterprise growth.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231518

    Digital Transformation for Traditional Retail: Walmart’s Success Amidst Pandemic Challenges in China

    In today’s rapidly developing digital technology era, the digital wave has engulfed every industry, and the traditional retail industry has also reached the crossroads of technological change. However, there is no comprehensive method to summarize the direction of digital transformation. This article aims to provide reliable digital transformation directions for the traditional retail industry by analyzing Walmart China’s financial reports, strategic de-ployment, and current reform achievements from 2018 to 2022. The study found that Walmart China’s digital transformation has been relatively successful, even after three years of the impact of the COVID-19 pandemic on the market. The revenue from Walmart China’s digital transformation-related areas has repeatedly achieved excellent results. For traditional retail enterprises, choosing partners, digitizing the supply chain, and imple-menting omnichannel reforms are the correct directions for digital transformation.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231521

    The Impact of Media Monitoring on Listed Companies - Take the 3.15 Gala Exposure of Aima Technology as an Example

    This paper mainly studies the influence of media supervision on listed companies, taking the 3.15 Gala exposing the irregular speed-up of Aima Technology as an example, and analyses the influence of media supervision on listed companies and its significance. Media supervision of listed companies is strong and can effectively monitor the behaviour and operation of listed companies. For listed companies, the negative impact of media monitoring may lead to a fall in the company's share price, and the investors are going to sell their stocks, which in turn triggers a crisis of confidence in the market. This incident is going to have a greater impact on listed companies in the short term and less impact in the medium to long term. So, the listed companies should take media monitoring seriously, maintain a good corporate image, enhance information disclosure and strengthen communication with stakeholders in order to improve the company's credibility and business value.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/31/20231494

    Financial Analysis and Valuation on BMW

    The BMW Group is currently top producers of luxury automobiles. The BMW Group is renowned for its dedication to technological advancement, as well as its emphasis on environmental responsibility and sustainability. This essay aims to figure out whether investing in BMW Group is a good choice or not. The author analyses the 2021 annual report of BMW Group from 3 aspects: accounting analysis, strategy objective and risk management. The recommendation is BMW Group is a good choice to invest in because it has strong good operations, profitability and a risk management system. Moreover, the transformation plan has made BMW Group even more growth-oriented and the return on investment is expected to improve in the future. BMW Group focused on the reduction of CO2 emissions and the electricity vehicle transformation plan in 2021, and the sale volume was quite considerable. The dividend will grow in the future, more shareholders may invest in BMW Group.

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