Proceedings of the 7th International Conference on Economic Management and Green Development
Canh Thien Dang, King's College London
To evaluate how the endowment effect be the obstacle in the agricultural and property market and to find key factors which have impact on endowment effect, this article re-defined what the endowment effect is in rural-land property market, which is mainly focus on how the decision-maker establish choices and evaluates the worth of the deals they hold. Then, this paper studies the phenomenon of price preference among supply and demand-side of farmland and property market in the application of Shaanxi province. Third, this paper exams the Chengdu's villagers voluntarily and compensation of the withdrawal from rural homesteads (WRH) with the obvious conflict between supplying and demanding of urban and agricultural building land resources. Based on the re-definition and main applications, this paper indicates that the key factors which affect the endowment effect includes emotional ties, degree of substitution of goods as well as products, income levels, price preferences on the demand sides as well as supply sides of the land market, perceived risk evaluation of future income situation, forecasted risk of the stability of the rural land property rights, the labour situation among various types of farmers, age, membership in cooperatives and whether there is a local intermarriage or not. This paper will also critically examine how endowment effect influence supply and demand relationships in the land and property markets, how the government might issue directives or create policies to support or discourage endowment effect in the farmland market and how to establish the innovation of "three rights of separation" in the land market. The potential remedies and suggestions are provided.
Behavioral economics is one of the hot topics in current research. Some researchers have found that the anchoring effect in behavioral economics theory generally appears in various markets in people's lives. This paper focuses on the anchoring effect in the catering industry, taking Luckin Coffee and Cotti Coffee as case studies on why and how anchoring has an effect on consumers' consumption decisions. This study conducted a questionnaire among Chinese high school students to show the existence of anchoring effect and explain how individuals make consumption decisions. Finally, this paper discusses the reasons why people are not affected by the anchoring effect, and gives corresponding suggestions from the perspectives of merchants and consumers, that is, how merchants can strengthen the anchoring effect on consumers to increase sales and how consumers can avoid falling into the consumption trap created by the anchoring effect.
Since its establishment in 2010, Xiaomi Technology Co., Ltd. has been a global mobile Internet enterprise and innovative technology enterprise focusing on the research and development of intelligent hardware and electronic products, smartphones, smart electric vehicles, Internet TV, and smart home ecological chain construction. However, with the increasing industry competition, we should effectively use our own resources in internal management to occupy a larger market share. Therefore, from Xiaomi Technology Liability Co., LTD.'s perspective, it is particularly important to improve the cost decision and find a scientific cost decision to achieve a better strategic goal. Based on its existing cost decision analysis and operation, this paper puts forward the combination of "RPA + AI" technology in the cost decision structure. The first part of the paper determines the research background, significance, method, and background. The second part details the relevant concepts: cost decision, artificial intelligence, and "RPA + AI", the theoretical basis. In the third part, Xiaomi Technology Liability Co., Ltd. is taken as a case to analyze the specific application of the cost composition and cost decision of "RPA + AI", including technical advantages and specific applications. In the fourth part, based on the analysis of the third part, "RPA + AI" is optimized and integrated in Xiaomi Group, the current situation of cost management is compared, analyzed, and finally put forward the problems and challenges faced. The fifth part summarizes the research in this paper and summarizes them systematically.
Apple, one of the world’s largest information technology companies, earns up to $100 billion a year, and its success depends not only on the company’s distinctive products, but also on Apple’s ability to find exactly the right marketing approach for itself. The success of a company is not only to continuously attract new customers, but also to retain the old ones, so as to create more value for the company. This paper focuses on 4Ps strategy, SWOT strategy, STP strategy and supply chain based on actual cases of Apple. The findings are that Apple now has a good marketing strategy in the retailing of technology products but there are still some areas that need improvement. The purpose of this paper is that other companies can use the Apple case to learn from the strengths and improve on the weakness in order to develop unique marketing strategy that are applicable to their own companies.
Building energy consumption is a substantial part of total energy consumption and is rising in the context of energy crises and environmental issues. To maximize energy savings and limit carbon emissions, the government recommends updating construction requirements. The Ministry of Housing and Urban-Rural Development of China proposed JGJ 26-2018 "Energy Saving Design Standard for Residential Structures in Extreme Cold and Cold Regions" in accordance to national policy. Several reports noted that some Chinese design requirements just stack energy-saving materials and technology without actually reducing energy consumption. This study proves the JGJ 26-2018's legitimacy. This essay first selects three major variables that have the largest impact on the energy consumption of buildings in extreme cold and cold areas—exterior walls, roofs, doors, and windows—and then gathers four cases of housing restoration of these three essential components according to JGJ 26-2018. The partial success of the strategy is proven by comparing energy consumption before and after building renovations, which provides a reference for energy-saving residential building design in severe cold and cold regions.
Under the background of high and new technology increasingly becoming advanced productive forces, the world has put forward urgent requirements for high-quality talents. However, with the development of information technology, the increasingly abundant recreational activities seem to become an obstacle to students' learning, which greatly increases the difficulty of cultivating talents. In view of this phenomenon, this paper analyzes the relationship between learning and entertainment from the perspective of "entertainment first" social psychology and ARCS learning motivation model. It points out that entertainment occupies the learning time mainly because the different time span leads to the reversal of people's time preference. In the future, the government should speed up the popularization of mental health knowledge and strengthen the supervision of digital platforms; the society needs to establish more effective learning and evaluation mechanisms, promote individuals’ abilities to collect and process information using information technology, establish a more comprehensive learning reward system and attach importance to cultivating students’ self-discipline. These practical and effective measures will help promote balance between entertainment and learning and adapt to the trend of talent development in society.
Price anomalies in the stock market are often difficult to explain using traditional financial theories, and such price anomalies severely affect the specific investment behavior of investors in the stock market and the trend of stock price movements. In order to study the causes of these anomalies and conclude certain countermeasures, this paper combines behavioural economic theories to analyze the causes of stock price movements over a certain period of time in terms of stock price trends caused by psychological deviations of investors in a specific industry. In this paper, this study finds that relevant stock price data by analyzing stock price movements over a certain period of time and integrate them to further understand the impact of investors' psychological biases or heuristics on stock price movements. Finally, this paper provides targeted suggestions for investors and stock market policy makers to address the importance of psychological biases on investment decisions, and suggests investors to consider the influence of different psychological mechanisms in the process of stock investment and make more objective value estimates for stocks. Second, it is recommended that government departments should reduce their intervention in the stock market to reduce the impact of policy changes on the stock market and promote a healthier investment environment for the stock market. In addition, stock market policy makers establish stricter laws for the stock market to regulate the price changes and valuation system of the stock market.
This paper examines the impact of the epidemic on China’s online travel platforms and how the online travel platform Ctrip has responded and developed. Through a case study of Ctrip, the impact and response measures of Ctrip under the impact of the epidemic are studied, and response strategies are proposed for other enterprises. The academic signifi-cance of this paper is to explore the impact and rebound experiences of enterprises under sudden public crises and to study the crisis response ideas of Chinese enterprises; the prac-tical significance is to retrace the response and recovery process of Ctrip under great un-certainty, to provide useful references for future solutions to sudden crises in the Chinese context, and to provide specific countermeasures and suggestions for tourism enterprises. The research logic of this paper is divided into four parts: background of the selected topic, literature review, case study and conclusion. In the research process, there are certain limi-tations in this paper, such as the research content is not universal and the limitations of the research method.
Although the mobile game industry is still growing, its rate has gradually slowed. Due to the background of the Chinese mobile game license crunch, mobile game companies need to adapt their production models and focus on improving user retention. This report begins with a basic introduction to the current situation of the mobile game industry. It then analyzes existing research on user retention and uses Mihoyo as a case study to explore why its user retention rates are higher than other companies. The report provides a reference for other mobile game companies through this case study. The study found that Mihoyo’s competitive advantage in user retention comes from its high-quality products and engagement with platforms that target the same audience. In addition, Mihoyo’s game development approach, which focuses on building intellectual property (IP), encouraging user-generated content, and creating a solid community that fosters a “game-creator-player” relationship, are also critical factors for its success. Other mobile game manufacturers should focus on improving game quality, carefully selecting partners, developing IP across multiple industries, and actively engaging with users.
With the development of Internet technology, the disappearance of the domestic traffic dividend, the intensification of market competition, the huge space for overseas market development, and the tightening of the policy on version numbers in 2018, forcing game manufacturers to turn to overseas markets on a large scale, the game has set off a boom at sea. As a cultural power with 5,000 years of civilization, China has continued to promote Chinese culture overseas, with its comprehensive national strength and international influence. In this context, the trend is for games and culture to go abroad, and MihoYo's product, Genshin Impact, has become an excellent case study. By understanding the background of MihoYo, analyzing its competitive strategy, and analyzing how its game “Genshin Impact” integrates Chinese culture through specific cases, we explore how MihoYo has achieved both fun and culture abroad and provide a reference for companies who want to accomplish both Chinese game and culture abroad.
With the rapid rise of platform-based enterprises in the digital economy, particularly in the post-epidemic era, online sales have become the primary sales channel for trendy goods. Many platform-based enterprises that combine community and e-commerce attributes have flourished. This paper examines the network effect of community e-commerce platforms in the trend industry, using Poizon as a case study. The success of Poizon provides valuable insights for similar enterprises, and network effects are one of the keys to its success. How-ever, Poizon still faces some challenges, which are analyzed from the perspective of net-work effects, and corresponding solutions are proposed. Chapter two provides an overview of network effects in the network platform economy, while chapter three analyzes the net-work effect of Poizon as a power-flow community e-commerce platform. Finally, chapter four concludes the paper.
In the era of new media, all industries are going digital. It is inevitable for the exhibition industry to conduct digital transformation. After the coronavirus pandemic in 2020, MICE (Meetings, Incentives, Conferencing, Exhibitions) saw a better industrial structure. Many online conferences and exhibitions have increased around the world. Live streaming, as an effective approach to new media communication, has dramatically driven online produc-tion. It has also helped the exhibition industry gather information and interact with peers in this era. In addition, it has promoted the economic benefits of the MICE industry. By adopting the interview method, 12 people in the MICE industry have been covered. The main purpose is to know how live streaming is utilized in the MICE industry. The paper summarized the model of "live streaming + MICE" and found many advantages of the model. Also, it introduced the limitations of live streaming employed in the MICE indus-try. The interviewer put forward some suggestions for the operation and live streaming of MICE companies in the hope of helping the MICE industry accelerate the digital transfor-mation and improve the economic benefits of the industry.
With the rapid advancement of science and technology and the increasing popularity of the Internet, traditional offline sales have failed to satisfy the needs of consumers. This trend has caused concern and competitiveness in the cosmetics industry. In the second and third-tier markets, Proya is a fast-growing brand that has undergone three stages of development: establishing the brand, exploring external expansion, and strategic upgrading. To cope with fierce market competition, Proya needs to seize the Internet development trend, strengthen brand building, transform and upgrade from a channel brand to a consumer brand, and enhance online sales channels for strategic upgrading. Proya has successfully rebuilt its brand image, expanded its consumer base, and captured market share for its future development by expanding Douyin's e-commerce business and launching the low-cost Ruby Essence. To become a century-old brand, Proya must adhere to high-quality products and services and strengthen communication with consumers.
Sense Time is a company with profound academic accumulation, which makes it rank high in the market of China artificial intelligence (hereinafter referred to as AI) software and applications. Its business is divided into four modules: high-tech business, city, life, and car. People in the industry highly praise the related products launched from these. Its achievements do not achieve overnight but in the exchange of mutual learning with other companies and joint cultivation. Sense Time cultivates its own high-precision talents and cutting-edge technology by enabling innovation and improving independent research and development capabilities. That is how they have today’s brilliant achievements. Although AI’s technological outlook is perfect, AI technology is also in high demand in the com-mercial sector. However, Sense Time is still on its way to breaking through industry barri-ers. In addition to its high cost of AI technology research and the fierce competition among peers have almost put Sense Time in the dilemma of continuous losses and bankruptcy. It is fairly difficult for Sense Time to stand out from the crowd.
AI and cloud computing have been controversial since the very beginning of the concept. The technical features of AI and Cloud Computing combined with the business make the business more efficient and effective. Many top listed Companies realized the potential value of AI and Cloud computing could help the development of the company to earn a profit. But the application of AI and cloud computing are few and immature, and lots of companies see this opportunity. In other words, who first control AI and Cloud computing is the winner in fierce competition. Amazon, the world's most influential e-commerce company, proposed the idea of “unmanned convenience” store operations in 2015 and started researching and launching Amazon.Go under the competition of AI and Cloud Computing, an innovative but unsuccessful checkout-less convenience store—the birth of Amazon. Go attracted many investors, and other companies, whether e-commercial or tra-ditional retailers, begin imitate Amazon.Go. With the gradual application of AI and cloud computing in the commercial sector, Amazon.Go is set to become the future of conven-ience stores.
As environmental pollution worsens, New Energy Vehicles (NEVs) are an effective solution to improve air quality. NEVs have made significant technological and marketing advancements, and Tesla is a model for developing NEVs. This study explores the innovation of NEV technology and marketing, using Tesla as a case study to determine how to use NEV technology and marketing effectively. Tesla's breakthrough occurred in 2013 when they turned a loss into an $11.2 million net profit, and their success continued to skyrocket. We analyze Tesla's marketing model, after-sales service, promotion methods, funding sources, and core competencies to identify their unique advantages in the business model and strategic portfolio. This study provides a useful reference for the innovation of NEV technology and marketing.
The anchoring effect is a kind of heuristic deviation. When people make judgments about someone or something, they are easily dominated by the first impression or the first information, which is like an anchor sinking into the sea to fix people's thoughts somewhere. This paper analyses the fluctuation of inflation rate, the reduction of interest rate, and the change of COVID-19 policy in China in recent years. Consumers' price preferences are anchored by past prices, which prevents them from accurately predicting future price changes. If consumers believe that prices will remain the same in the future, they will use the current price as a benchmark for future prices, and they will base their consumption decisions on this price. However, if the price changes in the future, consumers will be priced wrong, so they will make wrong consumption decisions. Because of the anchoring effect, people have impulsive consumption, retaliatory consumption, and conservative consumption. In order to reduce the negative impact of the anchoring effect on the economy, this paper suggests that people should be fully aware of the market price, make reasonable expectations of inflation, avoid impulse consumption and retaliatory consumption.
Under the influence of factors such as information loss, information asymmetry and personal experience, people can be easily affected by anchoring effect and make wrong decisions. The anchoring effect is a cognitive bias whereby an individual's decisions are influenced by a particular reference point or anchor. This influence can be reflected in many aspects, such as the promotion activities in shopping malls, the choice of insurance products, or the decision to sell or buy in the stock market. In recent years, scholars have gradually found that anchoring effect will influence various decisions made by investors in the stock market to a certain extent, and therefore affect the price of individual stocks in the stock market. Based on previous research experience, the paper summarizes the changes in investors' decisions caused by anchoring deviation in China's stock market and its impact on specific stock prices. Therefore, this study on anchoring bias in the stock market has important implications for investors, traders, and financial analysts. By understanding the ways in which cognitive biases can shape decision-making in the stock market, individuals can take steps to mitigate the effects of these biases and make more rational investment decisions.
The article investigates the impact of financial intermediaries and internet finance on financial markets. By comparing the existing research data and materials, this paper analyzes the advantages of financial intermediaries in dealing with information asymmetry, controlling credit risk, capital allocation, and conversion. The research shows that both the advantages and disadvantages of financial intermediaries affect financial markets to some extent. The author also found that with the development of search engines and social networks, the rise of Internet finance has a significant status in promoting the efficiency of resource allocation. The results are supported by data generated from previous studies and are consistent across both internal and external conditions. From both positive and negative aspects, the influence of social networks and informatization on financial markets can also provide a positive reform effect on networks and financial intermediaries and put forward some further ideas. Furthermore, based on the analysis, the author also puts forward some measures to utilize financial intermediaries and internet finance.
With the continuous breakthrough of Internet technology, we can clearly see the huge growth space and potential profitability of related companies. However, due to their unique instant change and uncertainty, high returns and high risks exist simultaneously and finding new approaches different from traditional ones to evaluate internet companies is necessary and significant. Based on adjusted Black-Scholes Model, this study discusses three approaches: Metcalfe approach values internet companies that relies on user numbers. DCF approach and Fuzzy real option approach estimate internet companies with strong cash flow and long-period potential growth, focusing on probability and fuzzy theory separately.