Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Business and Policy Studies
2023-02-26
978-1-915371-69-0 (Print)
978-1-915371-70-6 (Online)
2023-09-13
Canh Thien Dang, King's College London
Javier Cifuentes-Faura, University of Murcia
The context of this paper is to explore the impact that financial analysts have had on major companies and the magnitude of that impact based on data from 2011-2019. This paper used a step-by-step approach of making models and analyzing data tables to apply theory and analysis to draw conclusions. It also involves extensive reading and extracting of literature and data sources. The main finding of this paper is that financial analysts do help the success and growth of a business to a great extent. It is one of the essential aspects and elements. It is even more necessary for those companies that have financial constraints. The impact is even greater for small and medium-sized companies than for large companies. Finally, policy advice and investor advice is a very good part of the analyst process for small and medium-sized businesses that have a clear position. It makes the whole business more likely to succeed with fewer detours.
The purpose of our study is to delve into how the Clean Water Act influenced the United States economy. We used some secondary research such as results from previous studies, textbooks, relevant news articles, published academic research papers, government legal documents, and statistical databases. By using this solid data which was published on the government legal documents, we can ensure the accuracy of this data. We found the results of the Clean Water Act (CWA) are controversial, and they are two-sided. However, The CWA now looks like a pretty successful act. In 1972 the United States administration enacted the CWA to restrict the discharge of pollutants into waters of the United States and regulation of surface water quality standards [12]. So our research question is how the Clean Water Act influenced the United States economy both beneficial and harmful. Previous studies have shown that the Clean Water Act actually has improved the economy drastically which we will talk about later. But there are some critics who examine the realistic aspect of the huge funds used to support this legislation which could be harmful to the economy.
The logo represents the image and philosophy of the company and is also part of the business strategy. In this way, we focus on what is a good brand logo and how to get a ‘Gorgeous’ brand logo. This article explains how a logo should be designed scientifically from different aspects such as visual, psychological and cultural. And at the same time, we mentioned a new but popular concept ‘Brand Visual Assets’, It is also a powerful demonstration of the profound meaning of the logo. In this research, we looked at it from multiple dimensions. For example, two kinds of luxury goods of the same price, why their different logo design brings them different types of consumers? How do we understand the new kind of classic? How does the details of the logo give people psychological hints? What are some detailed designs you didn’t notice? you will get all of these answers in this passage.
This paper is aimed to describe the application of value framing in communication CSR. Value framing is the process of connecting an issue to deeply held values. This paper's goal is to outline the method of testing how the framing of CSR messaging, which it has a value-theoretical foundation, affects how consumers perceive the CSR message. With this study, further research into how value-based framing tactics affect consumers' perceptions of CSR messaging could be started. Determine the degree of common ground between businesses and their customers by having a solid understanding of the value-theoretical foundations and values' capacity for explanation in connection to CSR communication. The final aim of co-creating values between businesses and their customers may then be accomplished, as evidenced by research that shows how trustworthiness may be increased, scepticism can be reduced through CSR communication, and so forth.
The idea of a new transportation paradigm consisting of shared, multi-passenger vehicles has emerged along with the introduction of partly autonomous automobiles. As such a transformative but untested idea, the amount of existing research regarding this topic is limited. However, there are certainly discussions focused on individual elements of this topic and testing on a small scale: Driverless cars, shared vehicles, multi-passenger travel, etc. From these scattered papers, our team was able to compile the main problems with the current transportation paradigm and the potential benefits of the new sharing paradigm that we are advocating for. In this paper, we addressed four problems with the current paradigm and devised solutions for each problem via the benefits of the new sharing paradigm. Although we were unable to collect tentative data due to technological limitations, we gathered any research we could to simulate a world where the sharing transportation paradigm is adopted at a large scale, demonstrating the efficacy of the new paradigm in solving current pressing issues with a concentration on improving the environment both in cities and in general.
The purpose of this paper is to investigate the yield and the degree of overlap of Snowball and its underlying asset, especially under the volatile financial market in recent China. China’s snowball product market has grown rapidly since 2018 and the outstanding size of such product is around 150 billion yuan in 2022. In this report, structure of Snowball product is divided into four typical situations, which are briefly introduced through a hypothetical case. In addition, this report reviews the historical data of the CSI 500 Index and digs into the trends of the stock market in China, hoping to find supporting evidence for the relationships between the yield and the degree of overlap, followed by the comparison of the yields of direct invest in CSI 500 Index and invest in Snowball products in different market conditions. The discussion of the returns and degree of overlap for different investment choices is limited; therefore, some possible suggestions and solutions are provided for market participants.
Behavioral economics blends psychology and economics to determine how psychological triggers or nudges influence people's decision-making. The decoy effect has been a particular focus of study in the behavioral economics literature. The decoy effect is seen as an effective "Nudge" and is widely used by businesses. For example, magazine subscriptions, vacation destination choices, and sales of various products—where there is a choice, there is an arena for nudges. The marketplace is flooded with nudges to influence consumer choice; in everyday consumption, many businesses use the decoy effect to maximize sales of specific products or options to increase revenue. Based on a review of the relevant literature and practical case applications of the decoy effect, this study summarizes articles with similar conclusions which can support each other while also mentioning different views regarding the limitations and disagreements of the decoy effect in behavioral economics. However, in general, the effects carried by decoys are apparent and have been confirmed by a large amount of literature.
The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) is a measurement of volatility in the stock market, which is closely associated with the return of the risk premium. This paper categorized the monthly log returns of VIX by Gaussian Mixture Models (GMM) and investigates the driving factors of VIX among the Equity Market Volatility (EMV) trackers under different regimes using the elastic net linear regression model. As a result of categorization, two regimes in log returns of VIX are found. Regime 1 with a lower mean covers most of the months, while regime 2 with a higher mean captures the months of extreme log returns. In months of both regimes, the policy-related factor significantly and independently affects VIX. Another factor that largely affects VIX in regime 1 is the macroeconomy and other factors have little impact on VIX in regime 1. Infectious disease, policy, and government related factors are more important in affecting VIX in regime 2.
In the online Consumer to Consumer (C2C) market for commodities, buyers and sellers have a propensity to value a commodity differently, resulting in disparate pricing expectations and a resulting dispute. In addition, it is debatable if the valuation difference still remains when purchasing and selling behavior occurs outside of C2C platforms. This study sought to determine the extent to which the endowment effect affects prices in the online C2C commodities market for overseas Chinese students. Using questionnaires to collect data, this study discovered a price disparity between buyers and sellers of pre-owned commodities. Nonetheless, it has been shown that it is doubtful whether ownership plays a major influence in the outcome, as no participant has stated that ownership is an essential aspect in determining pricing. This research concluded that buyers and sellers have different valuations. However, the extent to which it is purely owing to the endowment effect is debatable. Based on the findings, this study recommended that C2C platforms establish a "bridge" that helps both buyers and sellers better understand the other's perspective.
Emission trading systems (ETS) contribute to economic efficiency by facilitating emission reductions where it is cheapest to achieve them. Polluters who would find it costly to reduce their emissions can buy emission allowances from polluters that can abate at lower costs. Through the comparison between the carbon trading market of the EU and China and an overview of each market, including key strategies and market performance, the reasons why China's designed its carbon trading market most suitable for its economy, along with the edges and costs of each market will be analyzed. This study indicates that China's current ETS design is beneficial for its current economic development; however, this design limits technological developments in renewable energy and transformations in economic structure. This will impact China's economic development in the future.
Environmental, social and governance (ESG) investing suggests that a company’s financial investments should not only consider economic returns and financial indicators, but also assess the combined environmental, social and wider stakeholder impacts of corporate activities and investment behaviour. Enhancing corporate value is one of the ultimate goals of ESG practice. The purpose of this paper is to examine whether there are sectoral differences in ESG practices across industries and to explore the relationship between corporate sustainability and ESG investments. Three representative ESG rating agencies’ ratings of China's domestic listed enterprises from 2017-2021 were collected, and the top 5% of enterprises (eight in total) were selected as a comprehensive sample to assess their sustainability, and the following conclusions were drawn: (1) there are sectoral differences in ESG investment, with higher ESG ratings in frontier sectors; (2) there is a lag, and there is no short-term correlation between ESG investment and corporate sustainability.
The bond market, a significant component of the financial market, is where bonds are issued and sold. Investors and fund-raisers from throughout society may access low-risk investment and financing instruments from a unified and developed bond market. This paper mainly uses the methods of collecting data and combining them into tables or figures in order to analysis some advantages of bond market. Besides, some strategies that people can apply when facing to various risks that may occur in the process of bond investment are also mentioned below. Through this research, it concludes that investors should use various methods and means to identify risks, and then apply various skills and means to avoid risks, transfer risks, reduce risk losses, and strive to obtain the maximum profit. Basically, the public may have a deeper understanding on bond market and how it works through this article.
The petrochemical industry is a pillar industry of China's national economy, which is related to people's food, clothing, housing and transportation. At present, China's petrochemical industry is large in scale and developing at a fast pace. However, influenced by epidemics and geopolitics, the petrochemical industry is operating under increased pressure. This paper starts from the current situation of China's petrochemical industry, analyses a series of problems that exist in the development process of China's petrochemical industry, and proposes corresponding solutions. The current industrial structural contradictions in China's petrochemical industry are so prominent that it is difficult to meet the needs of key national construction projects. At the same time, the long-standing problem of industry monopoly is not conducive to fair competition in China's petrochemical market. In addition, the petrochemical industry needs to reverse the inherent prejudice of serious environmental pollution and frequent safety accidents in the minds of the people. Therefore, accelerating the upgrading and optimisation of traditional industries, appropriately deregulating the market, adhering to green and low-carbon development and establishing a sound safety management system can effectively solve the current difficulties faced by China's petrochemical industry.
In the past few decades, financial derivative securities have been developing rapidly around the world, and the issue of options and investment consumption has attracted more and more attention from mathematicians and financiers at home and abroad. In this paper, option pricing models are constructed and calibrated based on the Black Scholes Merton model, binomial tree model, historical data model and Monte Carlo diffusion model. The differences between different option pricing models for options and stock hedging of the same company in a short period of time are discussed and analyzed. In this article, the Monte Carlo model outperforms the traditional Black Scholes Merton model, while the binomial tree model and the historical data model do not perform well. The results of this paper are beneficial for investors to use the optimal model to predict option prices, weaken the aggregate risk, and improve the aggregate return level.
After the founding of New China, some external competition and internal policy support led to the rapid development of civil aviation. In the process of development, some problems have also been found and solved. Up to now, China's civil aviation industry has a huge scale and is one of the most important industries in China, with a growth rate far exceeding the international level. However, due to the unstable international situation, airlines are under pressure due to the rise of oil prices and the reduction of passenger traffic, which also exposes many new problems. This paper describes four current problems of civil aviation. The problems are rough management and neglect of industrial structure, monopoly in the aviation oil and material supply sector, which is not conducive to reducing enterprise costs, excessive intervention in enterprise management, which hinders moderate competition in the air transport market, and relatively low economic efficiency of civil aviation. Solutions are also given to each of the above problems, which include industrial structure policy, industrial investment policy, anti-monopoly law and other related policies and legal systems.
Through the investigation and analysis of the research, there is a lot of relevant research and application of the competitive sports policy of the "three-grade training network"; however, this policy no longer can meet the development of competitive sports at the current stage. So far, the official still has no clear direction for reform of the current three-grade training network policy, which is the purpose of this research. This research will use the method of the questionnaire survey, case analysis, and literary analysis to summarize, analyze and improve this policy based on the exploration of this policy at home and abroad nations. It is hoped that it can be used in the future development of China's competitive sports to make Chinese competitive sports management more scientific and efficient. At the inaugural meeting of the Tokyo Olympic delegation, Sports Director Gou Zhongwen expressed the downward trend in competitive sports. In recent years, the overall direction of the development of competitive sports in China is mainly manifested in the continuous decline of the level. In particular, the downward trend of collective projects represented by football is more pronounced. This paper primarily aims at the problem of the decline of the domestic competitive sports level and analyzes the successful cases and management models of other countries in the world, which are represented in recent years, and seeks reference.
In 2019, COVID-19 broke out in China and gradually formed a huge epidemic worldwide. It still has a great influence and has affected all aspects of people's lives. This study mainly researched how the market resilience of real estate was shaped under the public crisis. Taking Zhuhai real estate adjustment in the epidemic as an example, this research preparing to find the development ideas of the real estate industry under the normal management of covid-19. This research is mainly based on the commissioning of the real estate market in Zhuhai, analyzes the real estate cases in Zhuhai and further analyzes the deficiencies in the real estate policy in Zhuhai from different directions, and finally gives suggestions for the resilience of the real estate market. Analyze the public management ideas of the Zhuhai case, discuss how the local government can scientifically and effectively guide enterprises to implement policies, give recommendations for the future real estate market, and enhance the resilience of the real estate market while safeguarding its balanced development in the post-epidemic era.
At present, the elderly problem in China has become a more serious social problem, and the low service level of elderly institutions and the insufficient number of nursing homes further aggravate the elderly risk. the establishment of PPP model elderly institutions can not only effectively relieve the financial and operational pressure of the government and help solve the social elderly problem, but also attract social capital to form corresponding cooperation with the government to achieve maximum benefits. However, at present, the number of PPP-model elderly institutions in China is insufficient, and they have not formed large-scale operations, and the elderly institutions are still mainly private institu-tions. At the same time, PPP projects also have greater risks in the operation of this model due to its complexity. To explore the operation and construction and risk factors of PPP model senior care institutions, this paper takes Qingdao city as an example, analyzes the above issues related to the current policy, social environment, and the specific situation of Qingdao city in China, and thus puts forward relevant suggestions.
At this stage, the automotive field has ushered in a new market, new-energy vehicles. To a certain extent, the carbon emissions of petrol vehicles have contributed to the environmental problem of global warming. Therefore, people are paying more and more attention to electric cars, and their willingness to purchase is also significantly improved. This paper will focus on the SWOT analysis of Tesla, a representative electric car company, analyze its financial status in the past five years and deeply explore the advantages of Tesla compared with other electric car companies and traditional oil car companies, to provide investors with reference data. The analysis found that Tesla currently has more advantages than disadvantages. Compared with the current opportunities, the company should pay attention to more threats it may face in the future. From the perspective of profitability, operating ability, solvency and investment ability, Tesla's trend in the past five years is very impressive. Compared with Toyota in the stable stage and BYD in the early stage of development, Tesla's current financial situation has more room for development and has always maintained substantial growth. But in the next period, it will inevitably face a variety of market competition.
CATL has been a popular choice among all the stocks in China’s stock market and has been recognized by many investment institutions as a good choice for long-term holding. However, its stock return always varies in Shanghai Composite Index and Shenzhen Component Index and no previous research has been done in terms of this area. Thus, to figure out the influence each market does on CATL’s stock, this research applied Capital Asset Pricing Model (CAPM) as the quantitative calculation method and made a linear regression to calculate the difference in return by analyzing the P-value, coefficients (β) and intercepts (α). The findings indicate that CATL’s stock price is more highly valued by the Shenzhen Component Index while Shanghai Stock Exchange has a more significant influence on CATL’s stock. In addition, the effectiveness of the CAPM model in stock valuation is further verified through the comparative analysis.
By the end of 2021, New Oriental declared that it would discontinue offering K-9 curricu-lum tutoring available at all its learning centers nationally. It will refocus its efforts and al-locate its resources to academic marketing strategies unrelated to K9 subject education. The goal of this article's research is to evaluate, using regression and CAPM models, the effects of the Nasdaq and Hang Seng on the returns on New Oriental stock. To determine their beta values and intercept terms, regression analysis of New Oriental stock returns, Nasdaq index returns, and Hang Seng index returns were performed. The CAPM model, which mainly investigates the correlation between projected returns and risky assets in the stock market, acts as the asset pricing model. Beta is a crucial variable. The beta coeffi-cient is a risk indicator that measures how volatile an individual stock or stock fund's price is in comparison to the overall stock market. The result is Nasdaq has a higher risk-free rate of interest and lower Beta value. Hang Seng has a lower risk-free rate of interest and higher Beta value.
Framing and life are strongly intertwined, in the framing effect, various ways of expressing messages have different outcomes. Goal framing, a more complex variant of framing effects, will be investigated in the study. Additionally, three distinct categories of goal framing—hedonic, gain, and normative goal framing—will be introduced in the essay. Currently, Psychological Reactance Theory and Prospect Theory, Dual-process theory, and the Regulatory Focus Theory are most frequently used by researchers to explain the psychological mechanism underlying the goal framing effect. Moreover, the article also includes additional information about goal framing and its applicability to environmental and medical testing. The goal framing effect, however, has several restrictions like influencing by the authority of the information source emotion and so forth. The experimenter can investigate additional controlling factors, like environment and personality, to increase the effectiveness of goal framing and then attempt to lessen or even eliminate the impact of these external factors.
In recent years, people who research finance are paying crucial attention in behavioral finance. Behavioral Finance explains that indicidual always believe in traditions, rather than take actions and decisions rationally. Researchers have described and discussed many psychological biases in detail in their literatures of behavioral finance, and the endowment effect is one of them. By means of case analysis, this paper conducts an in-depth study on the application of endowment bias in the field of investment through the psychological behavior research of mutual fund investors and a study of biases affecting investor behavior in India, and draws three conclusions: First of all, behavioral bias plays an important role in investment decisions. What’s more, the investor becomes emotionally attached to the entity he owns, which becomes more valuable to him when it comes to selling. Finally, an investo’s decision is a combination of a person’s psychological decision and financial decision. By understanding these conclusions, investors can invest more rationally and create greater benefits for themselves.
Under the wave of economic globalization, more and more Chinese enterprises have gone abroad and listed in overseas securities markets to demand overseas capital. This paper comprehensively uses the method of empirical analysis and comparative analysis to explore the problems and institutional defects in the disclosure of listing information outside China. It elaborates in detail the differences between the information disclosure systems among China and the main security-listed places. On this basis, it puts forward the improvement countermeasures of the listing information disclosure system outside China. In this paper, ESG information disclosure of listed companies has attracted more and more attention from academia and the practical community. The domestic and foreign literatures on the concept of ESG is the subject of analysis, and the supporting theory, disclosure motivation and disclosure effect of ESG information disclosure research of listed companies are systematically sorted out.
From reform and opening up to the current "One Belt, One Road" policy, more and more countries have started trading with China. Transactions between multinational and Chinese companies are becoming more frequent and complex, it is particularly important to control the business practices of large foreign companies in China and prevent hostile takeovers, given the coexistence of crises and interests. Anti-takeover measures and anti-takeover laws are now the main effective means of dealing with hostile takeovers worldwide. Currently, for China, which is in the process of telling development, it is very necessary to formulate anti-takeover laws and regulations in the context of frequent and complex eco-nomic activities. This article focuses on the existing domestic anti-takeover laws and regulations using the method of legal regulation analysis. It was found that the main rea-son for this is that China is at an early stage of development and has not given much attention to anti-takeover issues in the early stages. In light of this, China must add clear legal provisions to regulate anti-takeover, focus on the comprehensive combination of anti-takeover measures and anti-takeover laws, and establish relevant regulatory bodies to address the problems caused by existing legal loopholes.
With the comprehensive and in-depth development of reform and opening up in the last century, as well as since China's accession to the WTO in 2001, foreign multinational companies have aimed at China, accelerated the pace of entering our market. A large number of mergers and acquisitions of Chinese enterprises have penetrated into many industrial fields in China. International mergers and acquisitions have become one of the important ways for multinational companies to enter our market, and many enterprises in China have encountered or will encounter mergers and acquisitions by multinational companies. Due to the lack of specific and detailed laws and regulations in China, the lack of a systematic regulatory mechanism for foreign companies merging with Chinese companies, and the significant differences and gamesmanship between Chinese and foreign merger and acquisition laws, local Chinese companies are exposed to huge risks in the process of being merged by foreign companies. This paper uses legal analysis to explore the legal risks faced by Chinese enterprises in international M&A. It proposes ways to deal with the risks by improving M&A laws and anti-monopoly laws, creating a national brand protection system and actively implementing anti-malicious takeover measures.
The global economy is in a sustained recession due to the impact of the new epidemic. As one of the few economies 'bucking the trend', Chinese companies have been presented with new opportunities to invest and merge overseas. However, decades after the 'going out' strategy was implemented, China still suffers from over-regulation, lack of regulations and inadequate protection for its cross-border Mergers and Acquisitions companies, resulting in frequent failures. How to address the risks of overseas Mergers and Acquisitions by Chinese companies from a national perspective is an urgent issue. This paper compares Chinese Mergers and Acquisitions regulations with those of other countries and examines the problems, causes, advantages of other countries and solutions for China. It is concluded that "imperfect legal norms", "restrictions between China and other countries" and "lack of fluent legal information on enterprises" are the factors that lead to the problems. The reason for this is that China is an emerging market economy that lacks the time to accumulate experience and improve. Through this analysis, recommendations are made to the Chinese government to improve regulations, taxes and remedies.
The enterprise transnational investment is thriving, and our economy is developing rapidly, but facing a shortage of talent, lack of technical development, management is not in place, investment risks, and so on many problems. From the perspective of national investment policies, developed countries have strengthened investment restrictions, and these measures are related to national security such as critical infrastructure and core technologies. Instead, developing countries continue to ease policies to promote investment. At the same time, tax-related investment policy measures taken around the world over the past decade show that tax holidays and reduced corporate income tax (CIT) are the main ways countries attract investors. Using the method of comparative analysis, this paper first analyzes three kinds of risks in transnational investment, namely capital security, environment, and tax issues, and then sorts out the regulations on transnational investment in the current legislation of China and the United States from the aspects of environment and tax, and finally puts forward suggestions to improve China's relevant legislation.
VIE, originally called as Sina-model structure, refers to the structure of agreement-based control that Sina adopted in 2000 when it was indirectly got listed overseas. Back then, such a structure was not called as VIE. Later, due to the Enron scandal, to regulate listed companies from leveraging SPV to transfer debts or loss, the US issued the rules on the consolidation of VIE accounting statements in 2004, which then get through the information of income and risks as the financial statements of the VIE operated domestically and the shell company listed overseas were consolidated. Since then, such a model with agreement-based control has been referred as VIE. The original intention to establish VIE structure may vary for enterprises in the US and in China, but in real practice, they have applied this model. In this paper, the fundamental features, the financial evaluation and the judicial supervision of VIE in both China and abroad have been introduced and compared. In the meantime, some advice has been provided to improve the VIE structure to cope with the trend that multinational companies would get listed in major global trading markets in the future.
Currently, antitrust is a major, but paradoxical issue in the U.S. airline industry. In one sense, the government wants to regulate and prevent airline mergers since it reduces competition, but the pandemic has made it difficult for small airlines to survive on the other. As smaller airlines slowly shut down due to an increase in the price of supply and decrease in demand, the larger airlines would have a greater grip on the market, so there would also be less competition, which can harm consumers’ rights eventually by limiting their choices. It is necessary for governments to develop new ways for regulation while considering about the new circumstances. More specifically, the government needs to allow some airlines to merge with each other for survival and developments. Through examining one case between two airlines that happened recently in the U.S. and analyzing its benefits among the whole market, this article aims to identify this new problem and determine the right move to solve it. In the end, several possible solutions in terms of law would be projected.
So far, cross-border mergers and acquisitions is still working as one of the key motivates of globalization whether the economy is booming or not. As the economy connection among countries becomes stronger, governments tend to strengthen their control of international cooperation, which lead to the intervention actives. The article mainly talks about the role of government plays in cross-border mergers and acquisitions. Case study is used to help the illustration. It first introduces the global environment and background of cross-border M&A. After that, it analyses around the systems and regulations of China, and then use the failed case of Chinalco as an example to do the further analysis. At last, political bias is found to be the key influencing the degree of government intervention. To face with the problems, some solutions are discussed, such as emphasising market attributes instead of state-owned attributes, improving relevant systems, as well as doing a more perfect prepa-ration.
As the world's second largest economy, China’s private market is attractive to investors around the world. The legal environment in China can be one of the major concerns for foreign investors who are interested in investing in the Chinese capital market. With enough knowledge on how foreign private equity firms operate in China, unnecessary loss can be easily avoided. This article analyzes opportunities and challenges that foreign pri-vate equity investors would face by looking over structures of PE and the legal environ-ment in China. From a historical perspective, the restrictions on foreign equity investors are gradually removed by the Chinese government, so investing in the Chinese private market overseas is now much more viable. Since 2020, foreign-owned private equity funds can be freely established in mainland China after a series of applications. Under this trend, the Chinese private market is expected to encourage more foreign investors to enter which also brings international investors more potential opportunities.
The cross-borer merges and acquisition came a long way in China and has experienced a significant growth in the past few decades, while at the same time encountering several problems that impede the further success of merges and acquisition with foreign companies, including lack of regulations and transparency, the blurry line between government intervention and company corporate system, and the difficulty of dealing with growing vigilance of foreign companies and countries which are gradually limiting trades with Chinese firms. The cross-borer merges and acquisition system in China is waiting for future reforms. This paper aims to investigate the cross-border merges and acquisition situation in the current Chinese market. Meanwhile, it also manages to provide several suggestions about how to give rebirth to the current cross border merges and acquisition market in China, including reducing the multiple stages required for examination and approval procedures, and adjusting relationship between the government and companies.
The Science and Technology Innovation Board (STAR Market) was established on the Shanghai Stock Exchange and was officially listed on June 13, 2019. The establishment of the Science and Technology Innovation Board and the pilot registration system is a major reform measure of the capital market to enhance and serve the capabilities of technological innovation enterprises. With the increasing development of the capital market, IPO has become one of the important channels for corporate financing. Due to the more inclusive listing conditions on the STAR Market, more and more innovative companies choose to list on the STAR Market. However, the problems of IPO financial fraud are emerging one after another, showing the characteristics of initiative, systematic fraud, concealed means, huge amount, and long fraud cycle. It has adversely affected the economy and society. Hence, the article sorts out the financial fraud cases before and after the IPO of Amethystum Storage, a company listed on the Science and Technology Innovation Board last year, expounds the reasons for its IPO violations, and proposes from the perspective of securities companies. Countermeasures to prevent fraudulent listing of enterprises. These results shed light on guiding further policy implementation for IPO.
With the continuous development of the economy and society, and also due to the sudden attack of the epidemic, the development of commercial banks in the national economy is facing a dangerous situation, so how to improve and upgrade themselves has become the primary goal. This paper takes China construction bank as the main body, gives the analysis of the earnings data from 2019 to 2021, using the DuPont analysis of the profitability of the construction bank to analyze its profits, liabilities and inventory turnover and other specific situation, reveals the financial problems existing in the development, to promote the improvement of enterprise management ability and the improvement of financial situation. This paper finds that due to the uncontrollable factors of the epidemic, CCB must strengthen its response capacity, formulate corresponding backup strategies for the possible impact of the epidemic, and optimize and stabilize its own financial structure.
To offer returns which have low or even no correlation with the market index is one of the most widely cited benefits of the market neutral strategies. Thus, market neutral strategies can be applied to generate relative stable returns against the backdrop of increased economic uncertainty. Using market neutral strategies to construct portfolios with stocks from each of the five representative sectors: consumer cyclical sector, healthcare sector, energy sector, technology sector and financial sector, this paper analyzes the return on each portfolio and their linear correlation with the market to figure out which sectors the market neutral strategies are better suited for. The result shows that the portfolios with stocks from each of the healthcare sector, energy sector and financial sector outperformed the market, while the rest of the constructed portfolios underperformed the market. Moreover, the linear correlation analysis demonstrates that the market neutral strategy cannot effectively diversify market risk when the portfolio is from technology sector. Therefore, the market neutral strategy may be more applicable in healthcare sector and energy sector due to the higher return and better risk diversification results, while it may not be well applied to technology sector for the negative return and suboptimal risk diversification result.
At the beginning of the 21st century, with the deepening the increasing degree of aging, it has become a major problem to solve the problem of solving the elderly to support and rely on. The research topic of this paper is the current situation and policy optimization of the home-based care model in Cangzhou city. This paper mainly uses the method of case analysis to analyze and study the home-based care service model of Cangzhou Yunhe District, and master the home-based care status of Cangzhou Yunhe District through a questionnaire survey. The study found that Yunhe District of Cangzhou city actively promotes home-based care services and provides professional services for the elderly, but it is still in the early stage of development, and there are problems such as pension care policies and the mismatch of resource allocation. Therefore, it is necessary to promote home-based care as a whole, meet heterogeneous social needs, and promote the development of home-based care services in Yunhe District, Cangzhou City.
As a national strategy proposed by China and promoted by senior leaders, "One Belt One Road" has profound strategic influence to China's modernization and the country’s leading position around the world. As an open economy province, Jiangsu is located at a significant intersection of the "Belt and Road", so it should seize the opportunity and actively engage in the "Belt and Road" construction. By using SWOT analysis method, this paper analyzes the advantages, disadvantages, opportunities and challenges of Jiangsu's economic development contextualized in "One Belt One Road" , which has promoted the economic development of Jiangsu. Jiangsu should combine its own advantages and make targeted improvements to the deficiencies in the construction of the national strategy , so as to achieve better development in the policy , and contribute to the economic development of Jiangsu Province. give suggestions.
The mass market now offers a wide range of products with similar characteristics for consumers to choose from, so how to attract their attention through marketing. It is worth looking into this. This paper mainly studies how different companies in the same category carry out corresponding marketing according to their own conditions. This article takes Estee Lauder and a minority brand in China as examples. The research methods used in this paper are The Four Ps of Marketing and literature review. The result shows that for some skincare products that are already branded, the company needs to hire some influential people to be the spokesperson for the skincare line. This is not only because of the celebrity effect but also because the public trusts the brand. Likewise, for products that are not very well known, they will focus their marketing on the daily advertisements of bloggers on some self-publishing platforms. This will make it easier for a wider group of people to learn about the product rather than just targeting a fixed population segment.
In this article, the research analyzed the different emotions that different times of the year bring to consumers to analyze the best time to place advertisements to gain maximum benefit. In the process of this research, there is a questionnaire asking people about their emotions, consumer impulses, and other results when they see an advert at different times of the year. to find out which types of products matched best at different times of the year. As a result, it was found that major events, weather, etc. at different times of the year produced different factors that led to changes in consumer sentiment and therefore consumer desire. With the help of this article, the influence of environmental and temporal factors in the placement of advertisements can be reduced, and in subsequent studies on the effectiveness of advertising, the findings of this article can be used to control for different temporal variables to more accurately document the research data.
This paper analyzes the efficacy of the SBA loans from different perspectives, including diversity, supported employment rate, and loan size. This paper also predicts the SBA loans’ future performance using historical data. To evaluate the efficacy of the SBA loans and make performance predictions, this paper used Excel, R, and Tableau to build and visualize models with large sample data. The results showed that the diversity, supported employment rate, and loan size of the SBA loans continue to decrease, which means the SBA loans can’t produce a desired or intended result from the SBA. From another perspective, this study emphasizes that The U.S. Small Business Administration should not hesitate to implement actions to improve the effectiveness of SBA loans.
Since the market efficiency hypothesis theory was introduced by Fama in 1970, many investors and researchers argued about the efficiency form of the real financial market. In the real financial market, there are solid pieces of evidence that the price of securities could reflect related public information. However, as real human beings, the investors in the financial market are not always rational and act according to the assumptions stated in the market efficiency theory, which results in a reduction in the efficiency of the real financial market. In this paper, our group tends to use two different views (investors and companies) to prove that all of the market efficiency hypothesis theory assumptions are violated in the real financial market, and the current market efficiency is weak. From an investors’ view, our group tends to analyze the effect of psychological factors from investors on market efficiency. Furthermore, from the companies’ side, our group tends to use case analysis to provide solid evidence for the market efficiency analysis.
Time series analysis is a basic tool in number investing. The time-series sequence is a sequence of variables measured in a fixed section sequence over some time. The fluctuation of stock price affects all aspects of social and economic life, so effectively predicting the trend of stock price changes has great economic and social value. Based on the existing research results on time series, this paper takes the stock market as an entry point, and sorts and summarizes the literature from the application fields and application methods of time series. The research results show that the application fields of time series involve the stock market, enterprises, macro economy, etc., among which the application of the stock market is the most commonly used and the most extensive. The research based on time series mainly innovates and corrects the research methods. The research in this paper can provide a theoretical reference value for further research on time series.
In 2020, China successfully won the Tough Battle Against Poverty, and eliminated all absolute poverty in the society. China becomes the first developing country that completes the poverty reduction goal of the United Nations Millennium Development Goals, and makes great contributions to the world poverty reduction. Most importantly, China escaped the Poverty Trap. According to the comparison between China and other countries that fall into the Poverty Trap, it is found that the environment for technological development, the potential economic growth, and the role of becoming the fourth "world factory" and the fourth international industrial transfer are all one of the factors that China can get out of the Poverty Trap. These factors ensure that Chinese economy can grow rapidly and also explain why China can avoid the Poverty Trap. Therefore, China should continue to vigorously develop its economy and technology to prevent poor households from returning to poverty and eliminate relatively poor populations.
In 2020, an unexpected pandemic struck the whole world. Covid 19 had a huge influence on the financial market, yet how it affected the performance of portfolios hasn’t been systematically studied. In this paper, the Markovitz Model is utilized to study the portfolio performance before and after the covid 19. A recent 3 years of historical daily total return data for ten stocks are downloaded from Yahoo finance, which later are aggregated to the monthly observations. Then, based on the monthly observations, all proper optimization inputs for the full Markowitz Model are calculated. After that, minimal variance and max Sharpe are found under 5 cases of the additional constraints, and the regions of permissible portfolios are drawn. The results are presented in both tabular and graphical forms and the inferences and comparisons are made. It turns outs that the pandemic did jeopardize the stock market, with the return of the portfolio decreasing and risk increasing. The flight ban could be the reason for the poor performance of the portfolio. Fortunately, the low ebb was temporary. A well-diversified investment can offset the negative impact caused by covid 19.
In the research of investment management and investment portfolio, how to choose the best investment portfolio and avoid risks is a topic worthy of attention and research for the field development and investors. This study is based on the most recent 20-year historical daily total return data for 10 stocks belonging to 3 different industries to estimate all appropriate optimization inputs for the full Markowitz model as well as the index model and use these optimization inputs for both models’ areas that allow the portfolio will be required to deal with the additional constraints of five different situations. Through a complete analysis and comparison, it turns out that the Markowitz model is more suitable for investors to obtain the optimal portfolio, and it performs better under these constraints. In addition, the results mainly analyze and compare the performance of Markowitz model and Index model in help investors to select the best portfolio by calculating the minimum variance, maximum Sharpe, and standard deviation respectively. In this study, the Markowitz model outperforms the Index model portfolio with lower risk and volatility and higher expected returns. An efficient frontier is produced by Markowitz portfolio analysis, where each portfolio represents the highest return portfolio for a specific degree of risk.
In order to explore the impact of the COVID-19 epidemic on the macro-economy, this paper established the IS-LM model and the AD-AS model, made corresponding adjustments and calculations to the models, analyzed the impact of the epidemic on aggregate demand and aggregate supply respectively, and put forward policy suggestions according to the actual situation by using the models. And in order to help the government better decide the best timing to return to work and production in different industries, this article utilized the total cost model in epidemic control to build a work resumption coefficient evaluation model of different industries, getting the coefficients of the high-density population industry, the industry whose work resumption can be carried out online, the industry of fewer average interactions, highly mechanized industry and special industries, respectively. And we formulated the standard of work resumption based on the work resumption coefficient under the condition of controlling the total cost to be minimized. After getting the work resumption coefficients of different industries and corresponding resumption standard, the government will be easier to balance the cost of the shutdown and the risk of resuming work and production under the epidemic.
Forecasting the stock market index has been an essential part of the investing process for the world’s investors, so predication for the composite stock market index of three different countries in North America were made for the investors to get references. The weekly data of three representative composite stock market index for each country from the past three months were chosen to generate the prediction for the next week’s performance of the stock market in each country through different time-series forecasting methods. The correlation between each index are calculated, indicating the short-term relationship between each country’s stock market. Three time-series predicting method is produced: SMA, WMA, and SES, one of the three methods with the least error by comparing the MSE and MAD would be selected for each stock index. Analyze the forecast results from the selected method for each country’s composite stock market index and compare them. The forecast results show that the composite stock market index for all three countries is going to decline in the following week. Several short-term relationships between different countries’ stock markets are revealed. The results and the discussion of this research tend to serve as a reference or an indicator for investors who have interests in multiple countries’ stock markets in the world.
Coffee retailing is an emerging industry, the market is rapidly expanding, and competition is intensifying. Luckin Coffee was founded in 2018. In just five years, Luckin Coffee has become one of the most successful companies in China. In October 2017, Luckin Coffee opened its first shop in Beijing and was listed on NASDAQ in the US on 17 May 2019. By July 2022, Luckin Coffee will already have more than 7,000 shops. It owes its success to the effective marketing strategy it has adopted. In this paper, the various marketing strategies used by Luckin Coffee can be summarized as celebrity endorsement strategy, promotion of a large number of coupons, development of marketing campaigns in Luckin Coffee’s app, promotion on public domain platforms, and marketing on Wecom are analyzed in depth. In addition, questions are raised, and recommendations are given for these marketing strategies in this paper.
In a world where development is no longer limited by geography, globalization has become the slogan and goal of many companies. However, not many have noticed that companies that have achieved international sales, such as Coca-Cola, have adopted a localization strategy. This study aspires to examine the existing cases of localization in the market, how localization is implemented, and the impact of implementing localization, from both macro and micro perspectives. This paper identifies the marketing strategies used by the multinational beverage company Coca-Cola through an analysis of its advertising in China in the process of achieving global sales. Based on the marketing mix, this paper analyzes and compares countries with vastly different degrees of localization to determine the decisive factors for using localization strategies in the four areas of product, price, promotion, and place. Current marketing research on the success of Coca-Cola is still narrow, with studies limited to how marketing success is accomplished in a specific location but does not identify the underlying strategy that had led to such success, localization. Meanwhile, the market lacks practical guidance on localization strategies due to inadequate research and this study fills these currently identified limitations.
Nowadays, online shopping has become a very common form of shopping in China. The sales of shopping carnivals such as “618” and “single day” also allow people to intuitively see the continuous development of e-commerce platforms. But in fact, the Internet only entered China in early 2000, and e-commerce has developed so rapidly in just a dozen years. However, looking back at the United States, a country where the Internet was first used and developed, why do U.S. e-commerce platforms not gain such a large market share as China's e-commerce platforms? This paper takes this as a premise, compares the e-commerce brands of Amazon, the most important e-commerce industry in the United States, and Alibaba, the famous e-commerce company in China, to explore the differences between Chinese and American e-commerce, and analyzes the possible reasons for these differences.
With the advancement of science and technology, innovation has become one of the main ways to promote social development. In such an environment, the concept of maker space emerged. Maker space provides entrepreneurs with the services they need, helps entrepreneurs save costs, and simplifies the entrepreneurial process. Maker space also uses the effect of scale to provide these services at a relatively low cost and make profits. However, the development of maker space has entered a bottleneck period, and it is difficult to break through the profitability and market size, so it is necessary to seek optimization in the business model. Incomplete contracts provide a potential possibility. Incomplete contracts have the characteristics of low cost and strong incentive ability, which meet the needs of the maker space. In this context, this paper studies how incomplete contracts can achieve benefits between the maker platform and start-ups. Using SWOT analysis, it is concluded that the use of incomplete contracts between the maker space and start-ups has positive advantages. A suggestion that incomplete contracts should be widely used in the future contract signing between the maker space and start-ups is drawn. This study believes that the application of incomplete contracts has broad prospects in the future.
In this open new media era, IP marketing has become an increasingly important marketing means. That is to say, according to the type and characteristics of the work (IP) publicity, so that the work (IP) accumulates a large number of loyal fans of the marketing means so that the general IP can be known by everyone, the other is to create new IP. When the product sales of many new energy vehicle enterprises are not ideal, Tesla appears in the world as a new force, which also makes many enterprises with poor sales see the hope of new energy vehicles. Tesla also told them how dominant new energy is in this era. Its CEO, Elon Musk, has brought super traffic and marketing power to Tesla through his super IP, creating a completely different from other new energy vehicle marketing to make IP marketing known to the public, bring his fans, and constantly attract fans. This study will summarize and refine Musk's marketing help to Tesla, and analyze the marketing cases of Musk and Tesla, to provide ideas and enlightenment for the marketing of other new energy vehicle industries and academic circles.