Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

Volume Info.

  • Title

    Proceedings of the 2023 International Conference on Management Research and Economic Development

    Conference Date

    2023-04-28

    Website

    https://2023.icmred.org/

    Notes

     

    ISBN

    978-1-915371-87-4 (Print)

    978-1-915371-88-1 (Online)

    Published Date

    2023-09-13

    Editors

    Javier Cifuentes-Faura, University of Murcia

    Canh Thien Dang, King's College London

Articles

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230280

    Technology Industry Stock Price Prediction Based on OLS, Random Forest, and Extreme Gradient Boosting

    Contemporarily, the marriage of artificial computer intelligence and the financial stock market has gained increasing interest in recent years. In recent years, forecasting stock prices has also been a more prevalent topic of conversation. Investors lack a coherent knowledge of the model mechanism and prediction results behind stock price forecasts. Hence, this paper will examine Apple, Microsoft, and Amazon, the three largest technology businesses. The three models OLS, Random Forest, and XGBoost were used to predict and evaluate historical data from the past five years. The OLS model has a superior performance structure when dealing with data sets with low data frequency, and its anticipated outcomes are also more accurate, according to the research. In addition, different machine learning models are employed for diverse data sets to produce predictions, hence enhancing the accuracy and dependability of the future predictions. Overall, these results shed light on guiding further exploration of investor investments in stocks and researcher studies theories and models.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230281

    Identifying Financial Report Frauds

    Misreporting numbers in a company’s financial statements is not negligible, as manipulations will not reflect a reliable disclosure. With financial manipulation becoming more and more regular, it is obvious that solving financial manipulation is an issue that needs to be addressed gently. It becomes a necessity to find techniques or mechanisms that can effectively identify the potential of financial report fraud, increase the credibility of the corporation and boost the confidence of investors. In this paper, we argue that the M-score and F-score as two reliable tools for predicting the possibilities of financial manipulations. In this essay, we will introduce the background and principles of these two mechanisms, then verify their reliability and effectiveness on sample Us-listed Chinese companies, which include those associated with financial report frauds in the past. In addition, we will lay out our discovery and full verifying procedure to help readers have a better understanding of our research and perspectives.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230282

    Company Bankruptcy Prediction

    Following the founding and operation of a corporation, the biggest challenge it faces is the risk of bankruptcy, so how to prevent, controlling, and analyze the causes of bankruptcy is one of the most critical tasks for every company. As we all know, many factors affect corporate bankruptcy, and most studies are based on a unilateral or small range of factors set to study its impact on bankruptcy. Based on the data provided by Taiwan Economic Journal from 1999 to 2009, this paper adopts univariate and multivariate analysis models to analyze the data. A 3Comparative analysis, Normality test, T-test, non-parametric test, ANOVA test, Factor analysis and logistics were carried out using SPSS auxiliary tools Regression (Regression) controls relatively comprehensive factors that affect a company's bankruptcy from an overall perspective. It aims to demonstrate the selection of bankruptcy factors and analysis ideas. After analysis, we conclude that through the research and analysis, we have a new understanding of the causes of corporate bankruptcy. We find the four most important factors affecting corporate bankruptcy. Namely, ROAC before interest and depreciation before interest, Liability to Equity, Total assets to GNP price, and No credit interval, In addition, many single factors may have no impact on a company's bankruptcy. However, when they coexist with other factors, they will have a chain effect, resulting in even multiple amplification of the risk of bankruptcy. Therefore, different from the specific analysis of the impact of single factors on the bankruptcy of a company, this paper extracts the primary factors and takes the analysis of the relationship between individual factors as a specific example by showing the research perspective of innovation to propose the actual operation of a company from the macro and micro aspects, that is, to clarify which departments and decisions to pay special attention to in daily operation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230283

    Stock Price Prediction Using Stepwise Regression and Improved with Factor Analysis

    Owing to volatility in stock markets, it is quite elusive to forecast stock prices. Albeit, sometimes regular patterns are manifested in stock prices and a variety of factors are proved to be competent to determine stock prices partly. Hence, using stepwise regression on historical stock price data, this paper proposes determining similar patterns in stock prices and exploring potential rules to select the main factors that can affect stock prices significantly while taking all factors into account. Difference analysis is also employed to probe possible correlations in the data. Eventually, this paper tries to improve stock price prediction using factor analysis and manages to achieve higher accuracy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230284

    The Impact of Customer and Marketer Psychology on Making Business Decisions

    This research uses the literature research method, the case study method, and the qualitative analysis method as research methods to analyze the influence of customer psychology and marketing psychology on business decision-making through four aspects: stock investment selection, necessity purchases, marketing, and discretionary expenditure. Meanwhile, the author chose the specific period of the epidemic because the social background caused people's psychological fluctuations, which have significant implications for business decisions. The delayed investment brought on by the pandemic affects aggregate supply and aggregate demand, and while the impact may take some time to be apparent, the magnitude of the impact depends on the scale and duration of the outbreak. Through analysis, enterprises need to put valuable customers at the center of business decisions as the basis of business decisions, so that businesses can focus on exploring ways to develop in unknown areas.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230285

    Comparison of Insurance Between China and the United States

    China has made enormous strides in economic development since the reform and opening up., while medicine and health care are relatively backward. Medical insurance is a very important social insurance project and an important institutional arrangement in the modern social security system. In addition to the common functions of social insurance, it also protects the physical and mental health of workers timely. It has special functions such as repairing labor capacity, reducing the economic burden of workers and their families, improving the physical fitness of the whole people, and promoting the healthy development of health services. Research question: which is better, Chinese insurance or American insurance. This paper analyzes the advantages of American insurance and the disadvantages of Chinese insurance through comparative research. This paper compares the coverage and protection, objects of insurance in China and the United States. By summing up the advantages of American insurance, it hopes that it can play a reference role in improving China's insurance. After analysis, this paper can draw the conclusion that the state needs to strengthen the people's awareness of maintenance, control the growth of medical expenses, and implement nationwide medical insurance.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230286

    The Analysis of the Digital Transformation of Small and Medium-sized Enterprises in China

    With the development and broad adoption of digital technology, digital transformation (DT) is becoming an increasingly crucial factor in the long-term growth of small and medium-sized businesses (SMEs). SMEs account for the majority of employment and tax revenue in China. Yet, as a result of COVID-19 and the economic depression, Chinese entrepreneurs are confronted with several hurdles and obstacles. Thus, the purpose of this study is to identify suitable methods for SMEs’ adoption and application of DT by analyzing existing literature and statistics and the successful case of DT adoption by existing firms. According to the study, digital assessment, corporate operations and management with DT, digital ecosystem integration, and optimization of DT practices would increase efficiency, expand market reach, enhance competitiveness, and facilitate collaboration. So, the results give the Chinese government policy suggestions for the long-term, sustainable growth of small and medium-sized enterprises (SMEs) and practical advice for dealing with economic changes after an epidemic.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230287

    Review on Research of Blockchain's Impact on Bookkeeping, Fraud Detection and Trust of Auditing Process

    Blockchain technology has been the topic of several recent studies in area of accounting and auditing. These studies explored the potential of blockchain on changing the traditional approach to accounting and providing more secure and efficient methods of bookkeeping. Results of these studies suggest that the blockchain has the potential of being a powerful tool or even something disruptive in sector of accounting, auditing, and accountability. Blockchain can significantly increase trust, transparency, and accountability since its nature of decentralized ledger system and the cryptographic algorithms under the system. These studies also suggest that blockchain has the potential to tackle fraud in accounting activities, which is always a challenging topic in accounting industry. Current focus of blockchain research in accounting, auditing and accountability is about exploring blockchain’s positive impact on accounting industry, especially on trust, fraud detection, and the design of accounting systems.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230288

    How Anchoring Effect Explains Individual Behaviour and Economic Outcome

    The exploration of anchoring effect has developed for a long time in history, and there are many outstanding works. This paper briefly introduces the possible influence of anchoring bias on individual behavior and economic outcomes in behavioral economics, and summarizes the definition, background and significance of this bias. It also uses three applications, including the estimation in the stock market, the retrospective data in the empirical research and the marketing and advertising to prove that the anchoring effect could be important and common both in daily life and economic activities as thinking and decision-making will be affected by this effect. This article finds that the anchoring effect does exist in many economic activities and affects judgments and decisions. This kind of influence sometimes leads to misjudgment and brings negative significance, but sometimes it can be used by people.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230289

    Application of DCF Financial Valuation Model - Taking BYD as an Example

    With the rapid development of modern financial industry, the valuation methods for modern enterprises are becoming more and more diverse. However, the DCF financial model is still a relatively common and accurate one. This paper will adopt the DCF valuation method, which is one of the cash flow discounting-based methods, to valuate a Chinese new energy enterprise called BYD. The result of the valuation is 7.39 trillion yuan, which is about 0.6 trillion from the actual result. The result is slightly different from the normal valuation, because it is still affected by the fixed debt and the estimation error of the future inflation rate and China's growth rate.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230290

    Analysis of the Problems and Countermeasures of Innovation Management of Small and Medium-sized Enterprises in China

    Small and medium-sized enterprises (SMEs) can promote the development of the national economy and society. In the market, small and medium-sized enterprises can provide jobs, promote technological development and accelerate economic growth. With the development of big data and management information systems, small and medium-sized enterprises are facing severe tests. Innovation management is an implementable way to meet this test. Innovation management is an all-round innovation from the main technology, system and management idea of an enterprise. It not only integrates the external resources of the enterprise but also improves the vitality of the enterprise itself and the ability to deal with risks. Therefore, this paper analyzes the problems and countermeasures of innovation management in SMEs in China. By using the method of a literature review, this paper expounds the requirements, current situation, and solutions of the innovative management of Chinese small and medium-sized enterprises and finally draws the conclusion that SMEs should innovate organization and ideas, widen financing channels, and enhance the ability of independent innovation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230291

    Comparative Analysis and Influencing Factors of Comprehensive Competitiveness of Urban Commercial Bank in Jiangsu and Zhejiang Areas

    In the fierce competition of the market economy, it is difficult for small and medium-size enterprises (SMEs) to obtain enough financing, which affects their further development, and urban firms can help them. This paper selects several urban business firms in Jiangsu and Zhejiang regions, compares their comprehensive strength and explores the influencing factors, and draws the conclusion that the economic development level, government policies, the positioning of banks and strategic investors will all have an effect on the comprehensive strength of urban commercial banks. This paper also gives some suggestions that the government should be more responsible to regulate the urban banks, banks should choose whether to need strategic investors according to their own conditions, and the urban commercial banks should insist on providing financing services for small and medium-size companies, so as to promote the coordinated development of regional finance.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230292

    1990 Japan Economic Crisis

    What can each country learn from this? How can economic crises be effectively avoided? When an economic crisis occurs, what can be done to avoid adopting the wrong policies? This paper is based on the economic crisis that occurred in Japan in the 1990s because of the rapid appreciation of the Japanese yen following the signing of the Plaza Agreement. The paper is divided into four sections to analyze the Japanese economic crisis of 1990. It describes the following questions: what led to the crisis in Japan; what impact the crisis had on Japan; what methods the Japanese government used during the crisis and what lessons the crisis brought; what each country can learn from it; and whether they can do better than the Japanese government did when it faced the economic crisis in 1990. Through the study, this paper finds that the Japanese government in 1990 did not immediately deal with and make adjustment plans when faced with the crisis. Secondly, it maintained an optimistic attitude. This is what led to the creation of the economic crisis. And this economic crisis pressed the pause button on Japan, which was growing at a fast pace, and stagnated the Japanese economy for 10 years. The effects of Japan's high ageing population and high divorce rate in that period continue to this day and seriously affect a country's economic development.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230293

    Revelation and Suggestions for Businesses Through Self-gift Consumption

    Nowadays, consumer behavior is no longer just to meet the basic needs of life, but is seen as a way of dealing with emotions. Gifts are no longer just given to others, and more and more people are eager to buy gifts for themselves. Competition in society is increasingly stimulating, and fear or anxiety has become an indispensable part of life. To alleviate stress or provide self-motivation, and empower themselves to face the challenges of work and life, the frequency of self-giving is increasing. Merchants should pay attention to this changing consumption trend and actively change some controllable external factors, such as store decoration, lighting, music, etc., which subtly affect consumers' shopping. They should try to increase the frequency and frequency of consumers' self-gifts as much as possible, thereby winning over competitors in commercial competition.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230294

    Price, Consumer Expectations, Policy Impact on the Automobile Industry in the United States — Empirical Evidence from 2005 to 2020

    Automobiles are good partners for the American people to live and work with, and the automobile industry has made remarkable contributions to the economic development of the United States. In this paper, the development level of the automobile industry is measured by the annual sales volume. With the help of economic demand determination theory, through the combination of qualitative analysis and quantitative analysis, it is found that prices, policies, and consumer expectations will impact automobile sales volume and then affect the development level of the automobile industry. This paper can provide a reference for the decision-making of government, automobile enterprises, and consumers.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230295

    Two-sided Matching Theory and Its Application in E-commerce Environment

    Since the turn of the 21st century, China's e-commerce has exhibited a rapid development trend of diversification and internationalization. The number of users on e-commerce platforms has increased significantly, the network infrastructure has continued to improve, the number of cross-border e-commerce transactions has risen steadily, and the two-sided matching problem inherent to it has become a topic of increasing interest. Each agent in the e-commerce market may have several attributes, and e-commerce market matches are sophisticated and multi-variant. Thus, the development of a suitable matching mechanism is crucial for the market's effective operation. This paper explores the prior literature on two-sided matching theory and its application in the e-commerce sector, combs its research progress, summarizes the advantages and disadvantages of present matching approaches, and anticipates the growth of application domains in the future.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230296

    The Impact of CEO Change on Enterprise Performance

    The chief executive officer (CEO) is the enterprise's leader and plays a crucial role in business growth. Thus, the impact of the CEO changeover on the company and the selection of a suitable replacement are equally crucial considerations. This research utilizes data from Shanghai and Shenzhen-listed corporations. Using China's shares from 2010 to 2019 as the primary sample and earnings per share (EPS) as the performance indicator, we examine the influence of CEO turnover and succession sources on the company's performance. This research examines the pertinent literature and concludes that there are numerous elements that influence corporate performance, such as CEO turnover, firm size, debt ratio, etc. Several control variables are selected to develop an econometric model in order to control the influence of other factors affecting independent variables and dependent variables. This paper focuses on empirical analysis, does descriptive statistical analysis and multiple regression analysis, and employs the PSM-DID model for robustness testing in order to investigate the effect of CEO change on firm performance. After accounting for the endogenous or self-selection bias of the control sample, the study indicated that CEO turnover has a detrimental effect on company performance. From the standpoint of succession types, the corporate performance of listed companies with external successors is inferior to that of publicly traded companies with internal successors. On the basis of the above empirical findings, this study makes related recommendations for the current corporate management practice in China.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230297

    Development of China’s Photovoltaic Industry: Stylized Facts, Difficulties, and Prospect

    With the target to achieve national carbon emission peak levels by 2030 and carbon neutrality by 2060, China has diverted a large portion of its resources on the development of renewable energy. As one of the most important domestic renewable energy industries, the photovoltaic industry grows at a rapid pace over the last decade. The essay illustrates the outlook of the photovoltaic industry in China at current in the perspective of industrial achievements and China’s position in the global market. Through a comprehensive analysis, the challenges of stagnating core technology, imbalance between surging demand and limited supply as well as the dearth of human capital are highlighted. Aiming at a fully-fledged solar energy market in the future, specific suggestions for PV firms and the government will be given. According to the three problems, expansion strategy is advised for firms: expansion of production scale; expansion of recruitment range; and expansion of technology application. Synchronously, the government is proposed supporting policies including fiscal support, academic support and technological support.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230299

    Research on the Monopolistic Characteristics and Countermeasures of China's Mobile Phone Market

    With economic development and technological innovation, mobile phones have gradually become necessary for people's lives. Today's mobile phones have both standard communi-cation and powerful entertainment functions. This study uses the methodology of Litera-ture research and Comparative analysis to infer the competitive structure of the Chinese mobile phone market through secondary data collected and to provide corresponding com-petitive strategies for each manufacturer to cope with the complex social environment, which is of great significance to the development of the Chinese mobile phone market. The study found that: the competitive structure of China's mobile phone market is in a state of monopolistic competition, with high product differentiation and relatively easy exit and entry for manufacturers. With high manufacturing costs, finding a competitive strategy that works for the company to survive better in the competition is vital. Moreo-ver, among these many strategies, technological innovation is the most effective way for every manufacturer to drive.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230302

    A Review of the Impact of Social Media in Customer Relationship Management of Large Corporations in the UK

    Customer relationship management, abbreviated as CRM, is a concept used in marketing that focuses on the customers’ needs and satisfaction to improve the company's performance. CRM puts the customer at the center of the company's operations, and all the information related to them is considered in making the company's important decisions. In the business world today, technology has changed traditional procedures due to the emergence of the internet and social media channels. Social media has changed everything from lifestyle to business operations. In this context, large and small business organizations are adjusting to the changes by adopting social media in their marketing strategies. It is clear that customers are the only source of current and future profits for the company thus, developing systems that are customer-centered is the new norm in the business world. Traditional CRM uses internal strategies that help understand customer needs, while Social CRM uses social media platforms to manage their customers. Integrating social media and CRM has helped companies improve customer interactions and offers ways of managing and measuring social networking for successful customer engagement. This paper aims to review various studies touching on the impacts of social media CRM on large Corporations in the UK.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230305

    Company Bankruptcy Prediction -Focus on Liability and Working Capital Analysis

    Company bankruptcy is a way of corporate restructuring, and bankruptcy prediction on various data of the enterprise in advance can avoid greater losses. The topic of this article also revolves around corporate bankruptcy predictions. This paper focuses on the screening of financial indicators related to corporate bankruptcy predictions, with a focus on the analysis of highly correlated data. In this work, SPSS is first used to screen the company's financial operation index data, and then focus on the data related to liabilities and working capital to carry out the company's bankruptcy prediction analysis, and it is concluded that these two indicators have a high impact on the company's operation and bankruptcy prediction. Its significance is that it has certain reference value for the subsequent decision-making of enterprises.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230306

    Effects of Booking Demand on the Selection Between the Resort Hotel and the City Hotel in Portugal

    The tourism industry supports the economy of Portugal. The study on hospitality in Portugal is essential due to its correlation with tourism. The analysis of the hotel booking demand in Portugal is consequently quite significant. This paper conducts comparative analysis, regression analysis and factor analysis to compare the influence of hotel booking demand on the customers’ choice between the resort hotel and the city hotel in Portugal, thus providing recommendations for both city hotels and resort hotels in Portugal.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230307

    Research on the Stock Price Prediction Using Machine Learning

    Stock price prediction is a complex and challenging problem that has attracted the attention of investors and researchers for decades. In recent years, machine learning algorithms have become powerful tools for predicting stock prices. This paper first introduces four popular machine learning algorithms used for stock price prediction which are linear regression, support vector machines, artificial neural networks and long short-term memory. In addition, applications and potential challenges of stock price prediction using machine learning are examined. Overall, this paper provides a comprehensive overview of ML-based models for stock price prediction and highlights the potential benefits and limitations of these models for financial researchers and artificial intelligence developers.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230308

    The Analysis of Current Chinese Non-Performing Assets and Lessons and Insights Learned from Experiences of Foreign Banks' Non-Performing Assets

    In China's banking industry, the problem of non-performing assets has a long history and a large scale. It has become a major obstacle to the development of our national economy. If the problem is not resolved, it will become more and more severe and may even lead to a financial crisis. Thus, learning from foreign experience to solve the NA of Chinese commercial banks as soon as possible is crucial to fundamentally solving financial risks. This paper analyze the current situation of NA in Chinese banks caused by national industrial policy adjustment, use of monetary funds and severe flaws in the money-operating banks' management systems. From the successful experience of foreign banks in resolving NA, Chinese banks can diversify and utilize multiple disposal methods, with the support of government, in order to overcome the challenges of NA.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230309

    Research on Chain Store Operations and Financing Problems of the Self-service KTV in China

    At present, the development of various industries is characterized by branding. Through standardized management, they can develop rapidly in cities, regions, and even countries, occupying a huge share of the local market. For example, Chayanyuese, a tea brand in Changsha, China, has won the favor of consumers with its fresh and classic brand image, Chinese-styled concept of brand culture, and high-quality service. Examples of success due to standardized management also include Luckin Coffee, Haidilao Hot pot, and other brands in China. Therefore, in this context, the future development and business model of KTV should also be changed accordingly to cope with the KTV market in the post-epidemic era. Based on the literature review, this paper studies the chain store operations and financing problems of the self-service KTV in China from the perspective of supply chain finance. The results show that the operation of the self-service KTV in China faces many problems, among which the lack of a large amount of funds is the main problem. To solve this problem, supply chain financing, which makes a continuous acquisition of high-quality assets and has a low financing risk, can be an appropriate financing method.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230310

    Analysis of the Vision Statement Presented in the Pocari Sweat Video Advertisement

    The magnificence and novelty of the Pocari Sweat advertisements in recent years and the fact that its brand has become well-known in Asia are due to the marketing techniques used by the company here. At the same time, the recurring elements in these commercials symbolize the characteristics of the company. This research would explore the vision statement presented in the video advertisement for this product of Pocari Sweat. It also explores whether other businesses outside of the company can also use advertising that is consistent with the vision statement to broaden their market and build brand awareness in the minds of customers. A qualitative analysis of the Pocari Sweat video commercial and Otsuka’s vision statement was conducted to point out the commonalities in the commercial and the connection to the vision. The study revealed that Otsuka’s vision statement is to promote the health value of its products around the world and that the content presented in the Pocari video commercial and the way it is shot are an artistic expression of Otsuka’s strategy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230311

    The Impact of the COVID-19 Pandemic on the Walt Disney Company

    The COVID-19 pandemic had severe effects on the global economy in 2020. Among the most affected sectors were tourism and the entertainment industry, whose poor performance affected businesses that relied on the two sectors’ health. The Walt Disney Company comprised such companies, having diversified into business units that aligned themselves with the two sectors. The present paper examined the impact that the COVID-19 pandemic had on Disney by analyzing the performance of its business units. To do so, it sought to answer two research questions exploring the effects of the pandemic on the tourism and entertainment industries. The paper utilized a case study approach in that it evaluated Disney in isolation to other companies and conducted an in-depth analysis on the company. Results show that the pandemic had negative impacts on the tourism sector, but a mix of negative and positive effects on the entertainment industry. Negative effects included a loss of tourism numbers and a decline in the theatrical entertainment sector, while positive effects included the growth of video streaming services. Those effects translated to impacts on businesses such as Disney, whose diversified operations expose it to the tourism and entertainment sectors. Thus, business units that relied on tourism suffered negative effects, while those dependent on the entertainment sector recorded some positive effects. The paper concludes by recommending that Disney focus its efforts on growing SBUs that demonstrated resilience during the pandemic, such as the Direct-to-Consumer and International SBU that relies on the entertainment industry.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230312

    Analysis of the Marketing Strategy of the Zara Brand in the Era of the Digital Economy

    With the continuous popularization of the Internet today, the digital economy has become the main force of national economic development, especially after the outbreak of the epidemic. People are more concentrated on online consumption, and international fast fashion brands with stores as the main sales mode have been hit hard. Therefore, digital transformation is of great significance to contemporary fast fashion consumer brands. This paper takes the marketing strategy of the internationally famous clothing brand Zara in the process of digital transformation as the research content. Based on the existing literature and data, this paper uses the SWOT model to analyze the advantages and disadvantages of its strategy. The results confirmed the vertical distribution system of brand integration and the marketing strategy of keeping up with fashion prices and close to the crowd, found problems such as low efficiency of online promotion and lack of innovation in online sales, and suggested strengthening social media marketing, improving online sales platform and other suggestions to provide effective measures for the digital transformation of fast consumer goods brands such as Zara.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230313

    Analysis of Four Capital Structure Theories and Financing Choice of Chinese-Listed Companies

    Controlling the capital structure is crucial to the financial management of the business. Maximizing the company's worth requires finding the appropriate capital structure. In this study, the relationship between corporate capital structure and corporate value is further investigated using the weighted average cost of capital (WACC) and capital asset pricing model (CAPM) analyses of four capital structure theories, including M&M’s First and Second Theories, the Trade-off Theory and the Pecking Order Theory, which examine the reasons why listed businesses' financing sequence conflicts with western thinking and point out its uniqueness and policy recommendations based on the current situation of China's stock market.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230314

    Analysis of "Chinese Style" Packaging with the Example of Time Fengjun, Easy Entertainment, and Lehua Entertainment

    With the rise of international entertainment culture in recent years, Chinese entertainment companies have also started to develop, but there is still a gap in research on the "Chinese" packaging of entertainment companies, so the author conducts research in this area. In this paper, we use the case study method to study the operation mode and packaging methods of entertainment companies, starting from the "Chinese" packaging, taking Times Square, One Heart Entertainment, and Lehua Entertainment as examples. By analyzing the business models of entertainment companies and combining the marketing models of China's top entertainment companies, people can learn that different companies need to adopt different business models and development directions according to their own positioning. Combined with the actual Chinese reality, the packaging models of different Chinese entertainment companies are finally derived through continuous exploration. Therefore, after analyzing the positive and negative effects of "Chinese style" packaging, people can improve the relative problems in the future. In the future, the packaging and marketing of entertainment companies should be closer to the market and respond to the changes in the market in time.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230315

    The Influence of Movie Release Modes on Movie Revenues: Take Lost in Russia and Lost in Thailand as Examples

    In recent years, the competition between China's streaming movies and theatrical movies has intensified. The epidemic has further promoted the development of streaming movies and enhanced the competitiveness of streaming platforms. Traditional theater companies have felt the threat of being "replaced". This article takes the two movies Lost in Russia and Lost in Thailand as examples to analyze the impact of different release modes on the tbox office and concludes that the streaming movie Lost in Russia has a higher box office. Alt-hough there are some accidental factors in the success of Lost in Russia, this study guides the future development of streaming media platforms and theater companies. This article finds that streaming movies have advantages in publicity and cinema chains have ad-vantages in production through SWOT analysis, but they also have inherent disadvantages. Since the streaming media platform and the theater chain cannot replace each other for the time being, and the coexistence of the two release modes is unavoidable, the streaming media platform and the theater chain company should learn from each other's advantages and develop together.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230316

    An Analysis of Chinese Animation Marketing Strategies from the Perspective of 4P Theory in the Era of ChatGPT

    Despite the negative impact of the epidemic on the film industry, the domestic animation film market has developed significantly in recent years. From Monkey King: Hero is Back to Nezha: Birth of the Demon Child, to Boonie Bears: Guardian Code, which ranked among the top three films in the Spring Festival this year, more and more local original animated films have gained popularity. Combined with the classic 4P theory of marketing, this paper has insight and analysis of the differentiation characteristics of the booming animation film market from four dimensions and concluded that Chinese animation films should put IP marketing in the first place, and further expand the influence of film IP through new media channels. At the same time, through the analysis of the correlation between animated films and information technology, this paper concluded that in the contemporary era of rapid development of information technology, animated films should embrace information technology more actively and use information technology to achieve personalized promotion.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230317

    Research on Innovation in Nescafe's Marketing Strategy

    Coffee has become one of the world's most famous beverages, and more engineers are edging towards designing more coffee products. The high demand has attracted more people to build their own coffee brands, which makes the competition in the coffee industry more intense. Despite such fierce competition, Nescafe is earning high revenues. This paper will discuss the innovation in the marketing strategy of Nescafe. Firstly, through the website search, we have analyzed the characteristics of most coffee types, and the comparison can highlight the advantages of the coffee types introduced by Nescafe. Secondly, based on the information collected from some articles, more about the marketing model of different coffee shops is unearthed. However, when compared to traditional online and offline marketing of coffee shops, Nescafe's innovative marketing strategy is superior. In conclusion, the high revenue gained by Nescafe is attributed to mainly two reasons, product design innovation, and marketing strategy innovation. Also these two innovation can be conclude as disruptive innovation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230318

    Suggestions for Lawson’s Entry into the Global Market: Evidence from Operations and Strategy of Lawson Convenience Stores in China

    Convenience store as a retail format meets urban population’s demand of a more efficient and expedient lifestyle. This retail model originated in Japan, and Lawson, as the second largest Japanese convenience store chain, has reached saturation in the domestic market and is now looking to expand internationally for future growth. This essay examines Lawson’s development in China and provides suggestions for its future growth in the global market based on its operations and strategies in China. Through the analysis of literature research, market data and Lawson’s official annual reports, this paper gives a comprehensive analysis of Lawson’s successful experience in the Chinese market and offers advice on the firm’s global development, emphasizing detailed market research and entry mode, a well-structured supply chain and technological investment, and targeted marketing strategies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230320

    A Prediction of the Construction Area of Residential Real Estate in Shenzhen Based on ARIMA Model

    The real estate markets are an important component of Chinese economy structure which is worth to study and predict. This paper uses the autoregressive integrated moving average (ARIMA) models to predict the construction area of residential real estate in Shenzhen. The data is given by a convinced and reliable company CRIC. CRIC focuses on the Chinese real estate market for years. With the dataset from CRIC and based on the ARIMA methodology, the author gives a roughly prediction which shows that the construction area of residential real estate in Shenzhen will continuously rise in a short term. Serious of tests are invoked, such as white noise test and unit-root test etc. The author then draws a conclusion by those tests, which implies that the construction area of residential real estate in Shenzhen is worth to predict statically. And in the real-life dimension this prediction can provide a valuable reference to politicians and investors. For politicians, the prediction can help them make policy. And for investors, the prediction can help them maximize their benefits.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230321

    Research on the Development of Recent Game Market

    Game market has become a huge new filed in the recent years. This paper collects data on the numbers of players, stream views, and revenue of companies in different types of games (such as FPS, RTS, and MOBA) and conducts a statistical analysis to determine their correlation. Additionally, this paper uses time series graphs to visualize trends over time and draw conclusions.": the league of legends although has a decreasing number of players, its views still go down too, its revenue can make a same level compare with its heyday. However, for overwatch, it lost its most players and views at the same time and the revenue of its game decreased dramatic as well after 2016. While for some old games like CSGO their players and popularity keep stable. This result can provide reference for game researchers background between games, and can be used as information to predict future market.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230322

    Research on Trend Investing Strategy and Hedging Strategy

    An investment method based on traditional subjective judgments faces huge challenges, while the strategy of quantitative investment is to find the optimal alpha model to judge the best timing of selling and buying and designing the most effective investment portfolio. Therefore, compared with traditional investment methods, quantitative investment breaks through the limitations of subjective judgment with its qualitative and quantitative advantages. The futures market attracts many investors with its low transaction costs and the two-way nature of transactions. However, most of the investment strategies that are frequently used in the market have low stability and do not guarantee correlation with the general market trend. This makes the investments risky, particularly for individual investors. Therefore, this paper will explore both futures investment and risk hedging strategies, aiming to ensure that every buy and sell is the correct choice as much as possible, such that futures investment is relatively stable and has high returns. This article focuses on using the moving average cross strategy through the python programming language to achieve the judgment of buying and selling in the process of futures trading and drawing the net worth curve of the real-time futures market data and perform a correlation analysis to determine which commodity sector is the most suitable using the trend strategy. For risk hedging, the article mainly uses the correlation analysis to study the relation between the prices of different types of futures. Furthermore, the futures and options market price fluctuations are discussed in depth, and also analysed is how to use and balance hedge parameters for risk hedging.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230323

    Relationship between Tea Export and Major Macroeconomics Variables in China

    Along with the impact of the COVID-19, China's import and export trade suffered a huge impact in 2020. Among them, tea exports have seen a rare decline. In order to recover the tea industry, this study analyzes the factors influencing China's tea exports. In economic theory, macroeconomic variables occupy an important position, and they allow a reliable assessment of the overall development of the industry at the macro level. In this paper, several macroeconomic variables from 2013 to 2021 are selected and used as independent variables, and the tea export volume in the same period is used as the dependent variable for regression analysis. However, the calculation of VIF revealed that the conventional multiple linear regression would be disturbed by multicollinearity, leading to unsatisfactory results. Considering the problem of multicollinearity, this study uses ridge regression and K-folds cross validation for processing and derive the corresponding ridge regression coefficients so that the significance of each variable can be examined. The results of the analysis are that GDP is most closely related to tea exports, while population size and local tea production are slightly less closely related, and exchange rate is the least related variable.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230324

    Research of the Development Strategies of Multinational Corporations in Emerging Markets

    Emerging markets are significant target markets for a range of goods and services due to their large consumption potential. Yet, because of the general lack of market liquidity in emerging markets, the growth of multinational firms just so happens to increase market liquidity and draw in additional investors. Therefore, the development of multinational corporations plays a vital role in promoting the prosperity of emerging markets. This paper focuses on the development strategies of multinational corporations in emerging markets. Through searching and collecting the development process and relevant information and data of well-known old multinational corporations, this paper analyzed and compared them, and summed up three important strategies. It can be concluded that in order to make established multinationals play a bigger role in emerging markets and get more emerging market companies to become multinationals, there are three important strategies: stick to direct investment, create unique business models, and promote internationalization.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230325

    Tesla under the Russia-Ukraine Conflict: A Short-term Perspective Based on Counterfactual Framework

    The ARIMA model has found extensive applications across various domains, including financial time series analysis, weather forecasting, epidemiological forecasting, and market research. Despite its versatility, little attention has been paid to the impact of the ongoing Russia-Ukraine conflict on Tesla Motors. Given the significant influence of Tesla, as a major player in the electric drive vehicle industry, on the global energy landscape, this study aims to utilize the ARIMA model to examine the effect of the Russia-Ukraine conflict on Tesla's sales volume and stock price. The findings of this study may contribute towards mitigating global warming and inspire investment in sustainable energy solutions, including electric vehicles and energy storage issues. Additionally, this study will highlight Tesla's contribution to the global energy landscape and provide a quantitative analysis of investors' preferences for Tesla. Results indicate that the Russia-Ukraine war caused a significant short-term impact on Tesla's stock price. A counterfactual framework was used to compare control and actual sets, revealing a disparity between ideal predictions and the real world. However, Tesla's stock price rebounded in the second month of the war, signifying that this will not significantly affect Tesla's future development. The study also suggests that the disruption of the global supply chain caused by the war and Russia's energy export restrictions resulted in a sharp increase in global oil prices, thereby escalating the cost of gasoline vehicles and leading to a considerable surge in Tesla's sales.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230326

    ESG Rating, Investor Attention, and Stock Returns in China December 2022

    We study whether ESG ratings can predict stock returns in China. We find marginal evidence that stocks with higher ESG ratings have lower future returns. In addition, we explore the cross-sectional and timeseries heterogeneities of the relationship between ESG and stock returns. We find the predictability of ESG rating is stronger for stocks in the industries that are important to climate change, and the relationship is only significant after 2018 when climate change is evident to investors in China. Overall, our findings show that investors’ attention is crucial for the stock return predictability of ESG ratings in China.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230327

    Correlation Analysis of Factors Influencing Insurance Claim

    In this work, many information concerning body indexes as well as living habits were used in order to analyze which factor may be most corelated with insurance claims. Many mathematical methods were used in order to gain more precise conclusions. By analyzing these key factors, it can be predicted that who is more likely to receive higher insurance claim. Therefore, it may give insurance companies valuable insight and help them to make decisions while considering potential for their services. On a broader scale, it can inform public policy by allowing for more targeted support for those who are most in need and vulnerable.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230328

    The Impact of Technology Monopolization on the Technological Development and Foreign Economic Cooperation Policies of BRICS Countries

    As the world economy has become more interconnected, technology's role as a driver of growth and a source of competitive advantage for businesses has grown in importance. The BRICS countries have been the engine of global economic growth for over a decade, but they now encounter varying degrees of opposition to their economic development. The developed world has implemented several strategies to preserve its position as the world's undisputed technological leader to maximize its profits and increase its market share. In order to accelerate economic growth, BRICS nations must work together to acquire cutting-edge technology that has been restricted from being exported to developing nations by developed nations. After providing a brief background on the technological monopolies of developed countries, this article analyzes the current state of technological development in the BRICS nations. Then it discusses the impact these monopolies have on technological progress before proposing countermeasures for foreign economic cooperation among the BRICS nations in light of these monopolies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230329

    Research on Cost Management and Strategy Optimization of China's Energy Vehicle Industry under the Background of Double-Carbon Strategy

    Based on China's current massive carbon emissions and guided by its sustainable development strategy, China implemented a "double carbon" strategy in September 2020 with the intention of reducing the country's carbon emissions in the future. In the automotive industry, new energy vehicles, which do not emit greenhouse gases while driving, have been emphasized, and many automotive companies have joined the ranks of research and development of new energy vehicles, and their market penetration rate is increasing year by year. Through literature analysis and survey methods, it is found that domestic automobile enterprises mainly face three problems: high manufacturing cost, difficulty in controlling the cost of power batteries, large investment in R&D, fierce competition in core technology, and price war to squeeze the market share of domestic enterprises. After analysis, this paper believes that automotive enterprises and the government can solve the problem by increasing the development of mineral resources to ensure the supply of minerals, sharing the R&D costs and improving the efficiency of R&D, and helping each other to protect the domestic market share of domestic enterprises. Thus, we can promote the realization of the “Double-Carbon” goal.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230330

    Research on the Impact of China's Dual Circulation Economic Strategy on Corporate Restructuring & Countermeasures in the Context of the US-China Game in the Post-Epidemic Era

    As globalisation accelerates and deepens, the competition between China and the US in the 'global governance system' (GGS) becomes more intense. China's activism during the epidemic effectively filled the gap in global leadership created by the US government's belated, reckless, and misguided policies on preventive measures. Nevertheless, the epidemic has also exposed the Chinese industrial chain’s lack of resilience and government intervention in corporate planning. In response to China's growing economic and political power, the US, under the Trump and Biden administrations, has begun to promote reverse globalisation and hopes to limit the growth of Chinese companies through economic and technological decoupling from China (US-Sino decoupling). With the US unilateral decision to decouple, if the Chinese government does not regulate it through policy promptly, it could significantly impact the global supply chain and its own companies. Therefore, in the context of US-Sino decoupling, Chinese companies in the post-epidemic era must improve their own supply chain resilience and reduce the intensity of conflict with the US. This paper will use case studies and comparative analysis to explore the main problems China faces from the experience of other middle-power countries in their economic recovery against US economic sanctions and to provide effective countermeasures for implementing this objective in the context of a dual circulation economic strategy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230331

    Research on the Countermeasures to Promote the Development of Education Service Trade in China

    With the development of the economy, international trade globalization, and the improvement of people's living standards, coupled with the development of international trade globalization, education service trade has become an important part of the economy of various countries. Since China acceded to the WTO, the educational service trade has been effectively developed and made some achievements. It is worth mentioning that with the advent of the post-COVID-19 era, the global economy has begun to show new vitality, promoting the development of international trade in education services. What’s more, this paper uses the Porter diamond model, which facilitates the study of Chinese international education services trade competitiveness. On the basis of explaining the relevant theories of educational service trade, this paper focuses on analyzing the current situation and existing problems of educational service trade and puts forward targeted strategic choices. Finally, at the end of the thesis, there is a brief conclusion for the paper.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230332

    Research on the Influence of Monopoly Market Structure of China's Steel Industry on Price Mechanism Based on Game Theory

    This article aims to study how the monopoly market structure affects the price mechanism of China's steel industry, which is an important pillar of China's national economy. Every year, the steel industry has made outstanding contributions to China's economy and indicates healthy economic development. Therefore, the research on the steel industry is of great significance. In this paper, based on the theory of game theory, scholars have selected the Abstract production method and comparative analysis method for research and have obtained some results. The most significant result is that the monopoly market structure affects the steel industry's price mechanism, which almost plays a decisive role. Scholars have subdivided large and small enterprises, as well as upstream and downstream enterprises. The results of the two have a similar trend. By analyzing these results, scholars pointed out the problems faced by the steel industry and made policy recommendations for the development of the steel industry in the future, mainly from the perspective of large enterprises, small enterprises and the government. It points out the direction for the future healthy and stable development of the steel industry. It has made a breakthrough in the uncertain development prospects of steel enterprises in China, providing experience and guidance for suppliers, entrepreneurs, and government departments on preparing for the next step.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230333

    A Literature Study for the Spillovers of Quantitative Easing

    Quantitative easing, as an unconventional monetary policy, was often adopted by major central banks after the 2008 financial crisis. Different from the conventional monetary policy, that is, the central bank injects liquidity into the financial market by adjusting the benchmark interest rate and open market operations, the core of quantitative easing is to increase the balance sheet of banks in the short term through asset purchases and other behaviors to achieve the purpose of stimulating the economy. From 2008 to 2020, the United States adopted five quantitative easing policies to deal with economic downturn risks. While alleviating its own economic recession, it also had a strong spillover effect on China and other countries. Although quantitative easing has alleviated the economic crisis in the United States in practice, it has had an adverse impact on the entire world economy, making the whole world bear the consequences of the economic crisis together. This article summarizes scholars' research on the role, effectiveness, and spillover effects of quantitative easing policies, and summarizes the factors that affect the size of the spillover effects. Finally, through the analysis of the international transmission theory and transmission channels of inflation, it explores the impact of the US quantitative easing policy on China's inflation rate.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230334

    Financial Analysis on Yankershop Food Co., Ltd

    With the gradual liberalization of China's epidemic policy, China's retail consumer industry is also recovering. Yankershop is a well-known company in China that specializes in snack manufacturing and sales. Yankershop's share price showed a rapid upward trend in both the second half of 2022 and the beginning of 2023, which means Yankershop perform well in this period and investors in the market show their confidence in this company. In FY2022Q3Yankershop's ROE reached 22.81%, which is an absolute leader in the snack industry. This article first analyzes the current situation of China's leisure snack industry and combines it with the situation of Yankershop. After that, this article analyzes Yankershop's business conditions through the company's overall introduction, accounting policy confirmation, and accounting analysis. At the same time, the results of Yankershop's sales channel reform and product strategy reform are mentioned in this article. These two reforms can partly explain Yankershop's good performance. Finally, analyze and reveal the future profitability of Yankershop and possible risks.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230335

    The Economic Consequences of Political Factors: Energy, Finance, and Policies

    It has been more than one year since the outbreak of the Russia-Ukraine conflict. In addition to the intense military actions on the surface, the confrontation between the parties in the economic field is equally intense. Taking the Russia-Ukraine conflict as an example, this paper is dedicated to illustrating the political impact from an economic perspective, to provide lessons for the optimization of political and economic decisions of the countries concerned. This paper contains two main aspects. The first is the impact of the Russia-Ukraine conflict on the energy market, financial market, etc. The second is to explore the impact of sanctions and counter-sanctions from both sides on Russia and the global economy. This article provides new insights into the impact of political factors on the economy by exploring the impact of the political event of the Russia-Ukraine conflict on the global economic and financial markets and even the international political and economic landscape. The paper concludes by suggesting that both sides in the conflict should remain calm and rational to avoid further escalation and deterioration of the situation.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/22/20230336

    The Impact of Aging on the Economy and Countermeasures in China and Japan

    China is facing significant economic impacts as its population continues to age. Japan, a country with a similar aging pattern and cultural background, has developed a mature coping system that can serve as a guide for China's aging direction. This paper aims to explore the impact of aging on the economy and potential policy actions for China. Specifically, the paper analyzes the impact of aging on labor, consumption, and investment. It could be founded that, in terms of the labor force, aging will reduce labor supply, while the proportion of the workforce in middle and old age will increase, slowing down economic growth. In terms of consumption, aging will promote consumption through pension expenditure in the short term, but will slow down consumption expenditure in the long term. From an investment perspective, ageing will reduce investment by society as a whole, except for some pension-related industries. This paper responds to this phenomenon by comparing relevant policies between China and Japan, and advances three countermeasures to mitigate the negative impact of aging: policy improvement, learning of advanced models, and intelligent provision for the elderly.

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