Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

Volume Info.

  • Title

    Proceedings of the 2nd International Conference on Business and Policy Studies

    Conference Date






    978-1-915371-73-7 (Print)

    978-1-915371-74-4 (Online)

    Published Date



    Canh Thien Dang, King's College London

    Javier Cifuentes-Faura, University of Murcia


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230857

    Different portfolio performance based on momentum strategy, market neutral strategy and PEG ratio in volatile market

    This paper aims to analyze the return of the investment portfolio based on the judgment of the current market, combining the characteristics of the strategy and the situation of the applicable industry. At present, many research papers have an aperture in understanding and practical application of the above topics, because they have not been comprehensively presented from multiple perspectives such as market and industry conditions and strategic characteristics. Momentum strategy, market neutral strategy and PEG ratio are selected here, combined with representative stocks in the consumer industry, energy industry, Internet and real estate for portfolio construction. By selecting the S&P 500 as a benchmark, it is compared with the historical price trend of individual stocks and the performance of the issuing company. While individual stock prices fluctuate significantly more than the benchmark, it is still possible to judge from the price action which strategy is more suitable. Based on the above analysis, it can be intuitively seen that momentum strategies and market neutral strategies are more suitable for the moment. It has reference value for strategy selection and construction in volatile markets. The analysis of the PEG ratio is relatively simple, and the ratio is only used as the adjustment and correction of the price-earnings ratio, and there are still many defects.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230858

    Sweet Potato Yield Prediction for Index Insurance in North Carolina

    Agriculture index insurance is an innovative topic that has not been well studied in the United States. North Carolina produces 1.7 billion pounds of sweet potatoes in 2020, but currently, there is no insurance to reduce the financial risk of farmers. As a result, index insurance focusing on North Carolina sweet potato farmers can be profitable. In this study, the precipitation is forecasted by the linear model using the first lag and seasonal factors. The predicted precipitations from May to September are then used to predict the yield. The precipitation model has significant factors for Season3, which represents July to September, the rainy season of North Carolina; the yield model has a significant variable of September, which is the harvest season of sweet potatoes in North Carolina. The precipitation model falls short of predicting the exact value of precipitation, but it catches the trend and seasonality. Despite the insensitivity of the precipitation model, the yield is predicted relatively accurate. The result of this study can be used to design the thresholds of the index insurance. Insurance companies can use thresholds to design insurance plans with different premiums.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230859

    The future of Electric Vehicle Batteries

    As the performance of BEVs has received increasing attention in recent years as electric vehicles have become hot, the focus of our research is on a series of problems brought about by the over-engineering of EV batteries that are detrimental to the development of EVs including the charging range of EVs and the problem of excessive weight and solutions to make EVs dominate the automotive industry, we use "swap stations" and "mobile with dual charging ports in a platform with adaptive fast charging of multiple battery systems" are two strategies to solve the above problems. As a result, we found a solution to the battery over-engineering problem. In this way, electric vehicles will be able to stand out in the automotive industry and thus increase sales.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230860

    A Case Study of Tencent Music: How’s the Music Streaming Industry Faring Under Covid-19?

    We identified five factors influencing the stock price of Tencent Music at various times in the paper. We used two mathematical techniques by collecting data on these five variables. By calculating the correlation coefficients, we were able to determine the influence of each variable on Tencent Music over different periods. Using the Linest equation in Google Sheets, we then developed a Linear regression model for Tencent Music. We used the regression model to calculate the slope, y-interpret, and predict the quarterly stock price to compare with the actual quarterly stock price. By analyzing Tencent Music's stock, we conclude the article with our perspective on the entire Chinese streaming media industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230861

    Mental health condition can be seen through facial appearances

    Mental health is essential to all of us. Research has shown that facial appearance can hold cues for symptoms of depression, and perceived mental health reflects actual mental health. However, little research shows the relationship between people's judgments of mental health conditions and facial appearances. Here we will discuss the relationship between mental health and facial appearance. We will collect photos of faces under different mental conditions and let observers rate their mental health scores. Moreover, we will also measure the observers' mental health condition to see whether people with mental illness can accurately judge faces under the same condition.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230862

    Does Covid-19 Change the Effect of Competition on Price Discrimination in U.S. Airline Industry?

    This paper seeks to examine the relationship between price discrimination and market competition before and after the outbreak of Covid-19 in the US busiest flight route, from Los Angeles airport, LAX to New York airport, JFK as a representation of the U.S. airline market. Scholars hitherto have long been focused on the effect of market concentration on price dispersion. There are two main conflicting theories that determine the relationship, the monopoly effect, and the branding effect. We analyze the air lane from Los Angeles to New York in two time periods, one from 2018 to 2020, and the other from 2020 to 2022 to see if Covid-19 changes the dominance of one effect over the other. The results of our study show that market competition has a positive effect on price discrimination during the pre-Covid period while revealing a negative effect on price discrimination after the outbreak. We conclude from the results that the branding effect dominates the LAX-JFK market before Covid-19, which means that higher competition increases the capability of a firm to charge different prices for different segments of customers whereas the monopoly effect overturns after the Covid-19 pandemic.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230863

    Game Analysis on Supervision of live goods problem with Tiktok Platform Participation including the absence of Lemon market

    With the internet and technology development, the utilization rate of short video platforms has gradually increased, and online shopping has become very common. On September 20, 2016, Tiktok short video platform was launched. A TikTok mall is a delivery tool provided by Tiktok e-commerce for merchants. The platform reduces the threshold for merchants to meet the requirements and implements a comprehensive opening policy to obtain more user traffic. Inevitably, lowering the threshold brings the disadvantage of merchants selling fake and inferior products, leading to the lemon for the market and significantly impacting the platform atmosphere and user traffic. Based on the idea of mixed strategy and a journal about the online game theory of product quality, this paper adds more variables, taking into account the negative impact of Tiktok's actual scheme policy and lemon market. Constructing a game theory model including merchants and Tiktok regulatory department, analyze its nash equilibrium and derivative of each variable. Finally, find out that the lemon market exists on the Tiktok platform. Second, the higher cost of high-quality firms leads to strengthening supervision to prevent the low-quality firms from being driven out of the market. Third, the lower profit of low-quality goods, the merchants prefer to sell high-quality goods. The strategies selected by the regulatory authorities on the Tiktok platform and the strategies of the merchants are influenced by the production costs of different quality, the regulatory costs, and the rewards obtained from the efforts made by the regulatory authorities in sampling inspection. These factors will also influence their profits. This paper will prove the conclusion with accurate data.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230864

    Industry development analysis of shared travel platform online car-hailing platform

    Catering to the development wave of Internet +, The ride-hailing service, which combines public transport with the Internet's positioning system, has attracted many users. After that, many online car-hailing platforms represented by "Didi Dache" and "Cao Cao Chauffeur" emerged, which achieved great success through online publicity. Its appearance greatly facilitates people's life, and it can also meet the needs of different passengers through personalized services. Nowadays, the ride-hailing industry has entered a stage of steady development, but many problems have been exposed along with the development, and most people focus on safety issues. The development of ride-hailing has changed people's concept of life, so it is also caught in the conflict and contradiction of classic cars, like many new things. However, with the launch of "Guiding Opinions on Deepening Reform and Promoting the Healthy Development of Taxi Industry" and "Interim Measures for the Management of Online Booking Taxi Service", the state has also shown its support and affirmation for the business model of the online booking car industry. This study will explore the market development structure of ride-hailing and will focus on the current problems and solutions of the ride-hailing industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230865

    Trading Strategy–Purchasing Power Parity

    This paper mainly focuses on one Strategy–Purchasing Power Parity. PPP is a value strategy that shows whether a currency is overvalued or undervalued based on the market prices of a specific good in different nations, and investors believe that the currency will get back to its fair value in the long run so that they would be long the undervalued currencies, and vice versa. This strategy is one of the two presentations from the class presentations. Furthermore, it was well developed in its modern form by Gustav Cassel in his article Abnormal Deviations in International Exchanges.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230866

    Relations Between De-industrialization and Terms of Trade: A Historical Review and Econometric Examination

    The international trade and industrial structure since the industrial revolution have changed significantly featured with a booming trade volume and unprecedented speed of industrialization. However, under the current of industrial process of western nations, the third-world countries, are experiencing a de-industrial process. Through industrialization and de-industrialization, the structure of the world was significantly changed, and the world was later classified as the developed and developing nations. This classification still works for current world order. Thus, tracing the reason that the process of world classification is vital, which could better enhance the understanding of contemporary world. This paper aims to analyse the reasons for the de-indudstrialization in the peripheries with a historical and econometric review.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230870

    Study of Great Power Dominance of the International Order Behind Veto: Take China as an Example

    A resolution to hold the five permanent Security Council members responsible for wielding the veto was passed by the UN General Assembly at its 76th session. Veto power is undoubtedly a vital part of the exercise of the veto power in international affairs at a time when humanity is facing unprecedented change; Moreover, by exercising their veto power in consultation and coordination of international affairs, the major powers are also contributing to the mitigation and stabilization of international affairs, as well as the establishment of a just and rational international order by promoting the development of a multipolar trend. They share a wide range of common interests and responsibilities on many important issues concerning the survival and growth of humanity, such as maintaining world peace and security, combating international drug trafficking and protecting the living environment of refugees, etc. This article will analyze the above aspects while specifically analyzing the role that great powers can play in promoting the multilateral system and contributing to developing countries, taking China as an example. As argued in this paper, the resolution subtly affirms the function of the UN P5, even though it seems to restrict the P5's veto authority. This paper's goal is to investigate the function of the P5 veto from the perspective of both the P5 and third world countries, as well as to discuss what can be done by developing countries to establish themselves as an emerging force after the postwar period when the big powers dominated international affairs.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230871

    Feasibility Analysis of the UN Security Council's Involvement in Climate Change Issues: Using Climate Refugees as An Entry Point

    In view of the increasingly severe negative impact of climate change on mankind, and given the current limited international intervention in this issue, the intervention of the UN Security Council should be sought. This paper takes the issue of climate refugees as a starting point. It proposes a strict limitation on the definition of climate refugees to help identify climate refugees more scientifically and accurately in reality. Given the difficulty of forming an effective protection system for climate refugees under the international framework, the need for the Security Council to intervene has increased significantly. Moreover, given the potential threat of climate refugees to global security, and considering that there is already a similar precedent, the Security Council should, by Article 41 of the UN Charter, adopt a resolution requesting all countries to take practical measures to mitigate the effects of climate change to reduce the generation of climate refugees and deploy response plans in advance for possible future climate refugees

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230878

    Loss Aversion and Protectionism

    The concept of “loss aversion” in behavior economics was proposed by Kahneman and Tversky in 1979 with the famous prospect theory. Loss aversion is a cognitive bias suggesting that an avoidance of loss is preferred by people than an equivalent gain. The impact of loss aversion is profound in multiple areas of human life, including economics, society, politics, media, etc. This study aims to investigate the relation between loss aversion and trade policies, in particular, the implementation of protectionist trade policies. Literatures in the area of political economics about trade policy are reviewed. The Grossman-Helpman model, which predicts a set of determinants of trade policy, is discussed. Three empirical studies – the U.S. steel industry, the U.S. Section 301 proceedings, and the Chinese cotton industry – as well as the influence of loss aversion in each case, are analyzed and discussed in detail. Overall, the study draws its conclusion based on previous literatures and empirical studies, and it further confirms that loss aversion would lead to a risk-averse behavior of policy makers by reviewing empirical cases.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230879

    Brandy Melville’s Social Media Marketing Strategy-Taking Girls in Generation Z as an Example

    A fast fashion brand that has become topical and popular in recent years, it must be Brandy Melville. In the era of fast fashion dying out, BM really has a big market. People never see their advertisements because they don't advertise. Brandy Melville used social media marketing strategies to successfully create concepts such as BM girl, BM style, etc. Make the brand a representative of American style clothing. Brandy Melville is especially popular among Gen Z girls. This article analyzes the success and controversy of BM's social media marketing strategy by studying the relationship between BM and z-generation girls, the BM brand's 4P marketing strategy, and the social issues brought about by the BM brand.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230880

    The Impact of Geographical Location on Urban Development

    City is the focus of logistics, passenger flow and information flow, and the unity of a large number of material and spiritual entities in a narrow geographical range. Cities can gather a large number of people, buildings and social and economic activities in a small area, all depend on a good location. When a region needs a city and where it is born, the decisive factor is location. A city, as long as it has a good location, can be quickly rebuilt after natural and man-made disasters. Based on the geographical location of the city, this paper discusses the natural resources, time difference and traffic respectively, and with examples of different cities are given in detail. This paper discusses the impacts of geographical location on urban development on different aspects, from natural resources, time difference and traffic. Those are factors can be determined by the geographical location of cities. Iceland benefits from superior geographical location with abundant natural resources, while Saudi Arabia suffers from poor geographical location with limited clean water supply. Bangalore enjoys the perfect time difference with United States. Zhengzhou and Guangzhou are in superb geographical locations in terms of convenient transportation. This paper concluded that geographical location plays a great role in promoting economic growth and potential urban development.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230885

    A Study on the High Quality Development Path of Building “Smart Community” in Chinese Cities in the Context of Digital Economy - A Case Study of Haishu District, Ningbo City

    The idea of a "Smart City" has evolved as society as a whole has begun to grow intelligently in the framework of the digital economy. The traditional community governance model, which represents a city’s most fundamental unit, is no longer appropriate for the culture of today, and the idea of a "Smart Community" has been put out. It is a new kind of community that uses cutting-edge developing technologies like cloud computing, next-generation internet, big data, and intelligence to be practical, comfortable, convenient, and sustainable. By using the Haishu district of Ningbo as a case study, this research analyses the approach taken and the dilemmas that may be encountered when building a "Smart Community” and proposes a high-quality development path for building a "Smart Community" based on the case. The study finds that stakeholders at all levels need to be closely connected, share data and develop collaboratively, and that there is a need to further develop the talent for "Smart Community" and actively promote the idea of "Smart Community".

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230886

    Study on the Utilization of Water Resources in Lanzhou City Based on Sustainable Development

    In the 1970s, because of the aggravation of environmental pollution and the emergence of energy crisis, people gradually realized that separating economy, society and environment for development could only bring devastating disasters to the earth and human society. This sense of crisis led to the birth of the theory of sustainable development. Nowadays, the theory of sustainable development has been further developed and practiced in China, and the Chinese government has put forward a representative "China Plan" based on this. Under the tide of national sustainable development, Lanzhou, located in arid areas, is also facing the problem of sustainable development of water resources, and needs to make positive response. The sustainable landscape of Pune, India, has certain reference significance for the recycling of water resources in Lanzhou, and this measure can also be applied to water-saving activities in Lanzhou in the future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230888

    To What Extent Has Hong Kong's Urbanization Process and Housing Policies Contributed to Its Inability to Provide Sufficient Affordable Housing?

    With a population of 7.5 million and the most unaffordable housing market in the world, Hong Kong is known for its high-density forms of development. Despite the many housing policies introduced by the Hong Kong government and its deep understanding of the importance of solving the housing problem, progress has been slow and even somewhat unsuccessful. The purpose of this paper is to explore the reasons for Hong Kong, China's inability to provide sufficient affordable housing by analyzing its urbanization process and housing policies. The main conclusion reached in the end is that Hong Kong's housing problems are largely a result of its history and urbanization; the biggest flaw in Hong Kong's land development mechanism has led to its lack of land for residential development; and entanglements between vested interests and different groups have hindered the change of the mechanism.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230893

    The Impact of Water Pollution on Human Society—Taking Tarim River as an Example

    From 1950s, the Tarim river resources have been developed. More and more human activities are taking part in this place. At the same time, it shows the potential of the development of the economy. However, it also bring back a big damage and pollution to this place due to the fact of overusing. “Tragdy of Commons” describe the exact same issue as this essay states. The topic for this essay is to analyze the balance between the development of the economy and the environmental issues. The analyzing method is literature review. By using the Fragmentation of water resource protection and cleaning systems, improving supervision and other effective way to overcome the negative effect of the development.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230899

    Analysis of the Australian Stock Market: Organization, Players, Challenges, and Opportunities

    The Australian stock market is discussed in this report because of its importance as a financial hub. In Australia, the primary market operator is the Australian Securities Exchange Ltd (ASX), which is increasingly utilizing technology to develop novel approaches to maximizing shareholder value. Several aspects of the Australian stock market and its participants are discussed using the existing literature as a basis for this paper. The report provides context for ASX's technology deployment. Secondly, it draws attention to the ASX's significant participants. The article's third section discusses the opportunities and threats that participants in the Australian stock market face. Problems have arisen in the regulation and operations of the Australian stock market due to recent changes, such as the transfer of regulatory authority to ASIC, the introduction of new rules regarding the disclosure of information regarding securities lending and short sales, and the introduction of novel market integrity rules. Investing in Australia's financial markets makes sense for several reasons, including the country's rapidly growing domestic market, sophisticated corporate infrastructure, pension-friendly government, and highly educated, multilingual workforce.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230902

    The Impact of Federal Reserve Monetary Policy on China's Industrial Economy

    As the two largest economies in the world, China and the United States have a far-reaching impact on China's economic growth and global economic development. However, generally speaking, the impact of the Federal Reserve's monetary policy on the economic growth of various provinces in mainland China is quite heterogeneous. For example, the impact of the Federal Reserve's monetary policy on the economic growth of eastern coastal and border provinces is less than that of inland provinces. Therefore, China should not only comprehensively use monetary policy and fiscal policy tools to effectively deal with short-term external shocks but also make full use of the favorable factors brought by the Federal Reserve, solidly promote economic restructuring, transformation, and upgrading, accelerate the structural transformation of economic growth momentum, and actively cultivate new kinetic energy for economic development.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230906

    Research on the Comparison of Populist Practices in Latin America and Europe

    Populism has increased in Western societies in recent years. As a political tool, Populism is often used as a solution to the democratic political dilemma of modern societies. In other words, Populism often erupts because political construction does not meet the public’s need for participation. Therefore, only by analyzing the causes of Populism everywhere can this paper better accommodate the demands of different social groups to eliminate the downside of Populism. Hence, this paper will analyze Populism in a different area with a cultural variety. The main areas that will focus on today are Latin America and Europe. Those two areas represent and reflect the desires that most people focus on. There is a great difference between the demand of citizens, especially the effect and damage caused by World War Two. The European countries usually represent the winner and did not lose as much as those third-world countries in Latin America, which had been exploited for hundreds of years.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230907

    Research on Populism and Political Polarization in France

    In recent years, populism has risen rapidly worldwide, especially in many European countries. Populism in France is the most typical example in Europe, which has impacted the existing order of the European Union. From the perspectives of historical origin, domestic structure, external environment, and realistic conflicts, this paper focus on the French populist party National Front (FN) and explores the nature and motivation of populist political polarization based on the theory of supply and demand. The extreme dissatisfaction of society’s middle and lower classes is the root cause of populist political polarization. Economic instability and voters’ distrust of mainstream politics have fueled populism. Populist parties use various tools, including polarized discourses, ideologies, and leaders’ unique political personalities, to drive voters toward extremes. The refugee issue has driven populism into a fanatical far-right, posing a challenge to Western democracy and the EU order. Finally, this paper discusses the influence and significance of the current populism in French society.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230909

    Analysis and Optimization of Labor Market Policy in East Germany After German Reunification

    The merger of East and West Germany in 1991 was a very important event in world history and had a great impact not only on the world but also on Germany itself. In particular, the transition of the former GDR is of great concern. Among them, the labor market problem in eastern Germany is one of the important challenges that the former GDR has to face in the transition. Using documentary and comparative analysis, this paper focuses on the excessive unemployment rate and the lack of public welfare policies in the labor market of eastern Germany after 1991. This paper aims to analyze whether the policies adopted by the German government to alleviate the problem are effective in the long run. Although these policies were controversial at the beginning of their implementation, some scholars consider them a failure. However, in view of the current development, these policies are beneficial and feasible for developing the eastern part of Germany in the long run.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230911

    Comparative Empirical Evidence of a Three-factor Model and a Five-factor Model Based on Anomalous Studies

    The Fama-French three-factor model explains the magnitude of stock market returns by constructing three variable factors. The five-factor model adds two more factors to the three-factor model to provide a more accurate explanation of stock re-turns. These two factors have been widely used in the industry for decades since their inception. As China's securities industry has developed late, research on the stock industry has been more oriented towards empirical studies of the three-factor and five-factor models, and less research has been conducted on many financial anomalies that cannot be explained by traditional financial theory. This paper systematically describes the origins of factor anomaly research and five-factor anomaly research on the A-share market from 1997 to 2020, constructs new factors, compares and summarizes them with the old ones, and concludes that the three-factor anomaly model and five-factor anomaly model are not yet able to adequately explain A-share stocks and have larger errors when conducting empirical evidence; in contrast, the CPAM anomaly model can better conduct anomaly research, and the resulting In contrast, the CPAM is more suitable for the empirical study of anomalies and can pro-vide investors with more effective investment strategies and recommendations.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230912

    Empirical Study and Reflection on the Impact of COVID-19 Pandemic on Chinese A-share Market--Based on Fama French Five-factor Model

    The COVID-19 pandemic has caused severe imbalances in the global economy and intensified stock market turmoil worldwide. Based on Fama-French five-factor model, this paper studies China’s A-share market changes before and after the epidemic. The stocks treated by ST (special treatment) and * ST (delisting warning) are screened, excluding companies and banking stocks with shortlisting time. The equities are finally divided into groups using the two-by-three grouping approach. According to the median of the total market value of stocks, the entire sample is separated into two categories: modest market value (S) and large market value (B). The samples are classified into three categories based on the book-to-market ratio's 30% and 70% quantiles: high (H), medium (N), and low (L). Comparing the different times of the impact of the five factors on stock earnings is conducive to explaining the changes in the factors affecting the stock price of listed companies before and after the epidemic. It is possible to analyze which factors have declined and fluctuated after the epidemic, resulting in a decline in stock prices, a slowdown in the growth of listed companies, or even a recession. The analysis of the five-factor model can clarify which factors have led to the decline in stock prices after the beginning of the epidemic, which is conducive to the formulation of related policies and plans by listed companies and makes up for the decline in stock prices and the slowdown in company growth caused by the corresponding decline, which has apparent practical value.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230913

    To Analyze the Impact of COVID-19 on Listed Pharmaceutical Companies in China Based on ANOVA

    As an important part of China's national economy, pharmaceutical enterprises have also been greatly impacted. The pharmaceutical industry has always been a sunrise industry. However, with the outbreak of COVID-19, listed pharmaceutical companies will have an impact. According to the development of the epidemic situation and market environment in 2020, the main epidemic period can be divided into three stages. This paper uses the analysis of variance to calculate the return on equity, net profit on total assets, and operating net profit of listed pharmaceutical companies in the past four years to confirm whether the emergence of COVID-19 has had a significant impact on listed pharmaceutical companies. According to the research conclusions, the corresponding theoretical basis was provided for the listed pharmaceutical companies, so that they listed pharmaceutical companies could better serve the people during the epidemic. It was found that the outbreak of the epidemic did not have a great impact on listed pharmaceutical enterprises.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230914

    Free-rider Problems in Eurozone: Inflation, Productivity, and Exchange Rate

    The Eurozone is experiencing historically high inflation. Following the pandemic recession, the Eurozone as a 19-country currency bloc must strike a balance between credibility and economic development. Rather than a bleak economic outlook, the ECB anticipates a brisk post-pandemic recovery. However, the current situation forces the ECB to choose between Euro credibility and economic prospects. This paper begins by explaining how the Eurozone was created using theories about the fixed exchange rate system and currency union. The article then explains the Euro as a public good from the standpoint of a free-rider problem. When there is no distinction between tradeable and non-tradeable sectors, labor mobility and product mobility can address the majority of concerns. However, in the real world, non-tradeable goods and services abound, and the Eurozone must contend with historically high inflation. As a result, the following section introduces the Balassa-Samuelson Effect to examine Eurozone inflation rates.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230915

    Securitization of Forced Migrants in the European Union

    The purpose of this paper is to discuss the EU’s responses to arriving forced migrants during the ongoing Ukraine conflict and whether the EU has selective humanity towards forced migrants who come from varied backgrounds. The theory of securitization will be applied to analyze the EU’s responses towards the arriving forced migrants. Greece will serve as a case study to show securitization works within EU states and explain the EU’s failure to handle the ‘refugee crisis’ in 2015. Then, through the comparison to the EU’s current response to Ukraine refugees, it seems that the EU does have a double standard towards forced migrants from different cultural backgrounds and ethnics.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230916

    Impact of COVID-19 on Inflation Measurement

    The COVID-19 pandemic influences people’s everyday living as well as the functioning of the society in many aspects including healthcare, government policies and so on. The effects that act on economics and finance are nonnegligible. There are changes in people’s investment expectations and strategies when taking the current inflation situation into consideration. Moreover, citizens of the United States change their consumption preferences correspondingly, which can have a considerable effect on the United States economy. In this paper, the author will examine how the COVID-19 pandemic effects these aspects in the United States using inflation situation as a parameter and indicator. The author will largely focus on the historical data of GDP deflator, inflation rate, and CPI. The first two indexes are significant and common indicators when reviewing inflation situations, while the third index reveals inflation situation as well as changes of people’s consumption habits. Based on the historical data, the author will then estimate the future trend of inflation situations, and finally provide some suggestions based on the analysis of the historical data.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230919

    Portfolio Selection in the Field of Social Media

    With the development of the Internet and the popularity of smart phones, social media has become the new mode of communication in the global world and covered many aspects of live of people such as working and education. The rise of the e-commerce economy has also increased the economic value of social media platforms. Therefore, this market is growing rapidly and has great investment value. This paper has created a portfolio of five stocks including Meta, Twitter, Tencent, Pinterest and Match Group in social media market to analyze the viability. Portfolio diversification plays an important role in reducing risk, and the capital asset pricing model (CAPM) explains the relationship between market and unsystematic (portfolio) risk. In Excel sheet, it builds two models to find the optimal weights of portfolio and Sharp ratio by using the Solver tool and the CAPM. The research shows that there is a certain correlation between each asset of the portfolio, and it is easily affected by the uncertainty of social media, which increases the risk of the portfolio. When investing a portfolio in real life, investors could select assets with slight correlation in different industries, which could reduce risk and uncertainty effectively.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230920

    Fintech Application: Artificial Intelligence and Blockchain

    From academia to manufacture, artificial intelligence has a wide application and influence. on financial market. Finance is one of the earliest industries have a great connection with artificial intelligence. Through accurate profiling, neural networks and a series of artificial intelligence technology apply to finance. The traditional financial products, service way, credit finance invest decisions, risk control, etc. will have an innovation. Analysis of base, impact mechanism, development directions, risks on combination between artificial intelligence and finance has great theoretical value and practical significance to promote further combination between artificial intelligence and finance. Blockchain, originated from the concept of digital currency, has an extensive application in series of industries. Governments, financial companies, technology enterprise all over the world show great interest in blockchains. Blockchain, a rising distributed database protocol, apply cryptography technology, time-stamped chain data structures and distributed consensus mechanisms, have achieved decentralization, immutability, easy traceability and many advantages. Blockchains have solved the problem, high cost and insecurity of traditional centralized system, which has broad application prospects. This article focuses on two representative technologies apply in finance, artificial intelligence and blockchains. Start with the definitions of artificial intelligence and blockchains. The significance part is analysis on application of these two technologies. It compares different charge of robo-advisor platform and analyze non-performing loans rate to show the advantage of intelligence risk control. It also introduces five types and characteristic of blockchains, and uses ripple as example to show application of blockchains in cross-broader payments.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230921

    Celebrity Endorsement and Fan Economy in China: Warm Glow or Pure Altruism?

    The use of a celebrity's stature or social standing to promote a product, service, or problem is known as celebrity endorsement. Is such consumption motivated by genuine compassion or a pleasant glow? In this paper, the researchers created an online experiment that distinguishes between two categories of fan consumption: those who worry seriously about their idols' wealth and wellbeing, and those who love contributing to their idols' income because it gives them a warm glow. Specifically, assessing the effect of reminders regarding celebrities' riches to differentiate between two potential channels: pure altruism toward the celebrity and warm glow. In conclusion, the data indicate negative treatment effects: reminders decrease the willingness to pay and reduce the inclination to spend, hence supporting the altruism channel rather than the pure warm glow channel.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230922

    Impact of Grain Output on Agricultural Output Value

    As a data directly reflecting the total scale and results of agricultural production in a region, agricultural output value is often used to measure the agricultural level of this region.Especially under the influence of COVID-19, food resources are in short supply from time to time, which makes us realize the importance of grain production.So in this article,we will mainly explore the impact of grain output on agricultural output value.We select data from the United States as the research object.According to the data we have got,we use scatter diagram, heatmap and the Simple Linear Regression which can help us know the relationship between two characteristics.Through the research, we found that grain output and agricultural output value are closely related which means grain output accounts for a large proportion of agricultural output value.At the end of the article, we describe the significance of studying agricultural development such as the importance of agriculture, agricultural development problems, agricultural development status and development direction.Key words: agricultural output value, agricultural importance, agricultural development and development direction.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230926

    Hotel Human Resource Management Strategy During the Pandemic---A Case Study of Hilton Hotel

    As COVID-19 spreads, an increasing number of industries have become stagnant, especially the hotel industry. Considering safety hazards, lots of hotel employees tend to make a career change. Therefore, the labor shortage and rising operating costs of human resources have gradually become the major issues for the hotel industry under the pandemic. In this circumstance, it is of great significance for the human resource department to think about how to adjust the hotel business strategy, optimize the management structure and reduce labor costs. Taking the renown Hilton Hotel as an example, this paper describes how the hotel should adopt human resources strategies to effectively cope with the crisis brought by COVID-19 and seize new development opportunities in this context. Hilton Hotels is working hard to ensure guaranteed quality of service during the pandemic, lowering corporate labor costs, and earning higher profits.The specific practice is to improve employee satisfaction, launch new employment mode, use artificial intelligence and so on.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230928

    The Impact of COVID-19 on the Real Estate Market Based on Case and Data Analysis

    In the previous two years, COVID-19 has been one of the pressing social issues, and empirical studies have shown that COVID-19 has a significant impact on the growth of the economy. However, more research and an analysis of the effects of COVID-19 on the global real estate market may be required. In order to better explore the effects of COVID-19 on the real estate market and the changes it has brought about, this study analyzes the real estate markets in China, the United States, and Europe together with pertinent real estate market statistics. According to the analysis, COVID-19 has caused a reduction in some office real estate deals, a rise in the market for luxury homes, a shift in consumer preferences from renting to buying. In addition, a significant uptick in the adoption of cutting-edge digital technologies by service providers. Therefore, it is advised that the real estate market performs sound market research, records changes in consumer demand, and promptly modifies its business plans. These results shed light on guiding further exploration of the impact of COVID-19 on the real estate market in the study area and the resulting changes.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230931

    Value Investing for Technology Companies

    Electronic products are constantly flooding our lives. More and more technology companies invest more capital to research electronic products. This paper analyses the data for five representative US technology companies from year 2015 to 2021, from a value investing perspective. Specifically, this paper looks at factors like profitability, valuation, growth, pay out and returns. By analysing those factors with historical data, this paper looks at the value changes and explain the possible reason behind. This paper further compares each of those factors across the five companies and it is concluded that Apple Inc ranks the first and worth to invest in our five-company portfolio. Dell, being the second the best choice, rank ahead of other three companies by a large margin. This paper suggest that one can have APPL and Dell in the portfolio but not to invest the other three companies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230932

    Application of Value Investing and Market Strategy Analysis in ORCL, ADBE, CRM, PANW and MSFT

    Technology, a new star rising, changes people’s lives dramatically through continuous innovation and support from all areas of society. Technology companies undoubtedly become the major storm of the stock market. The findings of this study aim to help stakeholders invest in a stock with good future prospects and the most significant potential to earn money through tons of technology stocks in the market. The methodologies that are applied in this research include P/E ratio, growth rates, and profitability ratios. All the methods help analyze which stock is better than the others from a comprehensive point of view. This research also includes non-numerical analysis, providing a more thoughtful conclusion for stakeholders to make investing decisions. The results point out that Microsoft is a wise investment company based on its top growth rates, growing and stable profitability, and relatively low p/e ratio. This research helps shareholders to identify their target when making technology investments.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230936

    The Application of Value Investing in UI, PXD and Qualcomm

    The goal of our paper is to use the correct quantitative methods and corresponding business indicators to find suitable objects for value investing to help investors seize the opportunities that exist in the stock market undertaking the pressure of global pandemic. The data we used is derived from publicly available data on the U.S. stock market from 2016 to 2021. During the evaluation, we use a number of business indicators, i.e., sharp ratio, GP/A, EBITDA ratio etc, to measure the three selected companies, i.e., UI, PXD and Qualcomm, that have performed well relative to the market in recent years. The result shows that the gross profit/asset of UI is 103.65%, which is much higher than that of QXD and Qualcomm. The EBITD/sales ratio was 36.12%, and it outperformed almost every comparative firm in the industry in the past five years. The sharp ratio of UI is 2.79, which means that it will earn 2.79 times of return of the American stock market. The detailed analysis of this paper proves that UI is indeed a promising company that deserves more attention from investors.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230937

    Analysis of the Investment Value of the Global Capitalization

    Value investing, as the name implies, will take advantage of the ups and downs of the stock market to gain income, and a successful value investor needs to look deeper and longer term. Therefore, when investors choose many stocks, the article usually pay attention to the P/E ratio, PEG valuation, price-to-book valuation, revenue growth rate, and the future development of the Company's industry. Based on the financial data from 2015 to 2021, this paper mainly analyzes four typical companies with global capitalization: HERC HOLDINGS INC (HRI); CUSTOM TRUCK ONE SOURCE INC (CTOS); EURO TECH HOLDINGS CO LTD (CLWT), and INDIA GLOBALIZATION CAPITAL (IGC). Because capital globalization companies are paid less attention to in the field of value investment, their value is vastly underestimated and capital globalization itself is an essential direction of future development, such as in this paper: HRI has excellent profitability and stable stock market among the four capital globalization companies, and has a good development prospect.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230938

    Transforming Current Transportation Paradigm

    It has been a long discussion that the current transportation paradigm is getting more negative in people's lives. Many people have complained about the traffic jams, air pollution, and over-use of natural resources. This study aims to analyze the problems of the current transportation paradigm and try to come up with specific solutions to form a new transportation paradigm. Does the question include the main issues that cause the current paradigm to become less effective and damaging? What new technology can help to change the old paradigm? What can economy type be helpful for the new paradigm? It is essential to tell people how serious the issue is and what they can do to improve it.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230939

    Impact of COVID-19 on U.S. Inflation and Unemployment

    This dissertation examines U.S. inflation and unemployment data from January 1, 1990, to June 1, 2022, and pandemic death data from January 27, 2020 to June 1, 2022, the impact of the pandemic on society is studied. Studying this case clarifies the relationship between inflation and unemployment, and the impact of pandemic deaths on inflation and unemployment. Data have been collected from Fred, County of Santa Clara Open Data Portal, U.S. Bureau of Labor Statistics. This dissertation explains why, during a pandemic, wage increases fail to attract workers, what happens when a labor glut doesn't drive down prices, and how to fix the economic problems caused by covid.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230941

    Impact of Digital Economy and Internet on Non-agriculture Employment of Rural Labor Force in China

    The Internet has extensively influenced all fields and levels of society as a communication technology. Employment in rural areas is also a controversial topic. This paper presents a brief literature review of the impact of the digital economy and the internet on non-agriculture employment of the rural labor force in China. The paper summarizes several technical articles and their Probit mode about the topic. The increased Internet penetration rate in rural areas helps reduce the income gap between rural and urban areas and the off-farm employment rate. The entrepreneurial income of rural households was significantly improved through the Internet. However, the overuse of the Internet will include the decline of non-farm employment intention behavior. The limitation and further research directions of internet and non-agriculture are also presented at the end of the paper.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230942

    Consider the Energy Sector as an Example for the Investment Transformation of the Industry about the Green Finance System

    The global climate crisis has recently become a critical issue worldwide. Additionally, greenhouse gas emissions from the production of fossil feedstocks are significantly connected with climate change, according to IPCC's AR6 report. Moreover, the most familiar to people is carbon dioxide. The Paris Deal, a second globally enforceable climate agreement following the Kyoto Protocol, was eventually concluded during the 2015 Paris Climate Conference in France. Following the publication of such a policy, several nations worldwide began to enact carbon peaking and carbon neutrality policies, leading local governments to issue regulations for various industries and even businesses. As a result, the investors would undoubtedly alter their investing techniques to increase their profits. The energy and transportation industries were the most impacted of all the industries that would be impacted. In order to reduce carbon emissions, this article will explore how investments in the energy and transportation sectors have changed. This article would use businesses as an example to make it more explicit and understandable.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230943

    The Second-Hand House Price Prediction Using Multiple Linear Regression Model

    Analyze the influencing factors of second-hand housing and build the relevant model using the data on second-hand housing prices in 2017-2018. The R-code analysis is used to construct a prediction model of house prices, and the main factors affecting their changes are obtained. According to the significance test, the model meets the expectation and is feasible. Finally, it is concluded that the most noticeable impact on housing prices is room distribution and ladder ratio, and the least obvious is trade time.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230944

    Research on the Methods of Investment Project Evaluation: Comparison of NPV, IRR and MIRR

    Which one of Net Present Value and Internal Rate of Return is better to use in different fields is the focus of current research. This paper analyzes the limitations and uniqueness of the use of NPV and IRR based on current research. The research topic of this paper is the relationship and difference between NPV and IRR. The research method of this paper is as follows: firstly, through the description of NPV and IRR respectively, then collect the data and examples used by NPV and IRR, secondly analyze the data and examples, and finally, this study found that in different situations, the use of IRR and NPV also has different advantages and disadvantages, and there is still a gap in the comparative analysis of the use of NPV and IRR in different situations. Therefore, this paper will supplement the gaps in the comparison of NPV, IRR and MIRR with an analysis.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230946

    Comparative Analysis of Different Investment Decision Indicators: NPV and PI

    Decision-making index is one of the key topics in today's research. Researchers have separately analyzed different investment decision indicators, but still lack comparative analysis. Therefore, this study compares NPV and PI, and analyzes their formulas, economic significance, advantages and disadvantages. The research results show that NPV and PI have the common shortcomings of the discount rates because of the similar calculation methods. For example, they need to determine the discount rates in advance and cannot compare items with different discount rates. When they are used, they will encounter difficulties in calculating the discount rates. In addition, although NPV has a wide range of applications and can be applied to a variety of situations, and the calculation method is relatively perfect, NPV is still due to the comparison of projects with inconsistent length and duration, and it not applicable to the comparative decision of independent investment schemes. The advantage of PI is that it can reflect the efficiency of investment, but relatively it also loses the ability to reflect the actual income level of the project. In actual decision-making, NPV can be used to determine the investable projects before PI is used to rank the projects under the condition of insufficient funds to ensure the full use of funds.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230947

    Research on the Ways to Appraise the Investment Based on NPV, Payback Period and IRR

    Recently, the economy of each country and nation are becoming increasingly influenced by the existence of the coviod-19. As the trend of the economic decline, a large number of manufacturing industries are facing the dilemma as to seize the opportunities of investment aggressively or stay in the situation where they are to keep the market share safely. As a result, it attaches great significance to choosing one investment wisely and cautiously. This paper focuses on the different types of appraisal techniques directly. By giving a specific example of different cash flows of a project, make calculations of various appraisal techniques and make comparisons between each of them. And then make a list of different advantages and shortcomings of investment criteria. The main findings of this paper are that among several appraisal techniques, the method of NPV can be the best one to apply when the project managers or investors have gained a large amount of experience and have a more aggressive mind and with the differences of the investment criteria, investors have to consider both the liquidity and profitability. At the end of this paper, the study makes slight advice on choosing the investment projects, making the investment decision more effective and acceptable.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230949

    The Research on the Application of CAPM Model in Chinese Stock Market

    With the improvement of living standards, more and more people tend to use their savings to make stock investment, and how to make good use of precious capital for project investment, industrial support policy of the government how to develop practical, make the flow of resources efficiently has the development potential and competitive enterprise project, which requires us to make accurate judgment and the correct decision. By adopting the method of regression analysis, carries on the empirical analysis of China's securities market sampling, shows that, by using statistical analysis methods, this study can select a relatively appropriate market portfolio yield, improve the accuracy of asset value and asset allocation, which is an effective and analytical obstacle to the use of Capital Asset Pricing Model (CAPM) to the China's capital market. And then put forward some model to analyze the enlightenment of capital and asset pricing for the stock market. The study draws a conclusion that the beta of a stock plays a decisive role in investing. Stocks with different beta values are selected according to different stock market conditions in order to achieve the best expected annualized return.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230951

    Forecasting the US Dollar/Euro Exchange Rate Based on ARIMA Model

    The exchange rate is an important indicator for investors and governments as well as a verdict on economic prospects. The euro reached its lowest point in 20 years on August 22, 2022, falling below parity with the dollar and terminating a one-to-one exchange rate with the American currency. The event's great significance provides paramount motivation for us to construct a suitable model capable to forecast it. Numerous modeling methods are proposed to predict and analysis the exchange rate. This paper discussed the applicability of a univariate ARIMA model. Moreover, a multivariable ARIMA model, i.e., four macroeconomic variables supposed influential to the change of exchange rate, were introduced in the AR part of the ARIMA model. For the training set, data is gathered on a monthly basis from January 1999 to December 2021, while the period forecasted is the plunge event from January to August, in 2022. Their 8-month long forecasting experiments reveal that the univariate ARIMA model has no ability to forecast the trend of the exchange rate. In general, the multivariate regression model with ARIMA errors is capable of forecasting the historical change of the USD/EURO spot exchange rate. However, its performance totally depends on the quality of the predicted predictors, which are the four macro-economic variables in this study.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230952

    Application of Segmented Pricing Strategy in Digital Economy

    The rapid development of Internet technology in the digital economy era provides conditions for enterprises to adopt a more accurate segmented pricing strategy. Information collection technology will lead enterprises to adopt discriminatory pricing strategies, which may make enterprises lack the power to improve product quality, and more adopt discriminatory pricing to gain competitive advantages and consumer surplus. Based on combing the existing literature, this paper mainly analyzes the application of segmented pricing strategy in enterprises and its impact on consumer surplus in the digital economy era. The analysis results show that enterprises cannot fully obtain consumer surplus through segmented pricing but can more accurately provide customized prices for different groups of customers. The use of segmented pricing by enterprises is conducive to the increase of the overall welfare of consumer groups.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/15/20230953

    The Impact of Foreign Direct Investment and Urban Economic Efficiency on Environmental Pollution: Evidence from China

    Foreign direct investment may increase industrial pollution intensity in the host country, which will deteriorate the host country’s environmental conditions; however, foreign direct investment may also enhance the economic efficiency of the host country through competitive effects, imitation effects, talent flows, and the related effects and in other ways. An improvement in economic efficiency indirectly affects the host country’s environment. This article first analyzes the relationships among foreign direct investment, urban economic efficiency and environmental pollution while expanding on the relevant theories. In addition, the study constructs a comprehensive environmental pollution index for 271 Chinese cities by using the entropy method with the cities’ panel data. The study also provides empirical testing of the connections among foreign direct investment, urban economic efficiency and pollution problems. The study finds that foreign direct investment has improved the economic efficiency of Chinese cities, the improvement in China’s urban economic efficiency is accompanied by the discharge of pollutants, which has aggravated environmental pollution. Also, there are significant regional differences in how the foreign direct investment has shaped China’s environment.

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