Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences

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Volume Info.

  • Title

    Proceedings of the 2nd International Conference on Management Research and Economic Development

    Conference Date

    2024-05-30

    Website

    https://www.icmred.org/

    Notes

     

    ISBN

    978-1-83558-485-9 (Print)

    978-1-83558-486-6 (Online)

    Published Date

    2024-07-05

    Editors

    Canh Thien Dang, King's College London

Articles

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241064

    Consumption in Virtual Entertainment: A Conceptual Analysis of the Influencing Factors of Purchasing in Live Broadcast Economy

    With the surge in the number of online shopping consumers in China and the continuous development of online shopping platforms, live broadcast marketing has become a major factor in supporting the China's economic development. In the field of e-commerce, webcasting has been favored by more and more people as an effective marketing strategy to attract consumers and promote products. However, consumer intention analysis of e-commerce live shopping is a relatively young research field, and theoretical research is still needed to fill in the gaps. The main purpose of this study is to analyze the factors that affect consumer purchase intentions in the live broadcast economy. This paper proposes a conceptual framework, that is, anchor characteristics, social interaction, and perceived value will affect consumers' purchase intention in the context of live shopping. This study draws conclusions on the factors affecting consumer purchase intention, and provides suggestions for future research to promote the standardization, efficiency and reliability of live streaming e-commerce.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241080

    Analysis of GDP Situation Between China and the United States

    China and the United States are the two economic powers that the international community has paid the most attention to in recent years, and their GDP has always been a hot topic among the people and officials. First of all, because one of these two countries is capitalist and the other is socialist, their GDP development situation is also different. Population and social environment are both key factors affecting GDP. After looking up various papers and pictures, I found that although both countries' economies are on a growth trend, the objective fact is that the United States is far worse than China and even begins to decline. The reason is because of the huge social differences in the United States, there are many poor areas and relatively chaotic public order. On the other hand, China's domestic economy has been developing gradually since the 1980s when it was completely stable. Compared with the United States, the poverty gap is relatively small, public security is good, and the population is large. Therefore, China's current GDP is much higher than that of the United States. The research method is to combine the information found on the Internet such as pictures, papers, and so on to write a paper. Finally, it is concluded that the common feature of both China and the United States is that their GDP is rising gradually, but China's rate is much faster than that of the United States due to various reasons such as population and stable social environment. Because of the epidemic and its large social differences, the annual GDP growth rate and value of the United States lags far behind China

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241092

    Obstacles and Impacts of Artificial Intelligence in Digital Security

    This study examines the obstacles and consequences of incorporating artificial intelligence (AI) into digital security in the rapidly evolving digital economy. It emphasizes the importance of safeguarding data in today's digital era, particularly when it comes to international data transfers, and stresses the necessity for effective policies that promote secure and organized data exchange. The study gives analysis through several aspects. For example, it gives analysis of the technical assessment of how block chain technology addresses data security challenges, the impacts of AI on data security, and how data protection standards affect the European digital economy. And the study then shows block chain's vital role in decentralized control over data, emphasizing the complexities of regulating data processors within a highly open and decentralized environment. Furthermore, the study analyses international cooperation regarding cross-border data regulation, suggesting that there is a need for globally recognized legal norms. In conclusion, the study is for that block chain technology is as an essential element, ensuring cross-border data security, and offering technological innovation and legal framework. The findings of this study indicate that the emerging digital age has led to a rise in digital security, including the development of moral and legal issues like deep fakes, exposed human reliability on automation, and disruption of security firms like those involved in robotics.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241104

    Factors Influencing E-commerce Live-streaming Shopping Customers’ Purchase Intention in Malaysia: A Conceptual Paper

    For fewer than a decade, live-streaming shopping (LSS) has been gradually expanding in Malaysia. LSS also known as live video shopping, enables real-time interaction between customers and online merchants. Nevertheless, there is a lack of thorough study on the elements influencing customers’ purchase intention, and the scope of a comprehensive framework is still restricted. This research aims to look at how Malaysian customers’ purchase intentions are affected by the e-commerce LSS features (product quality, product price, sales promotion, professionalism, interactivity, and entertainment). Additionally, this research will also examine whether customers’ trust acts as a mediating variable between e-commerce LSS features and customers’ purchase intention based on the Stimulus-Organism-Response (S-O-R) model. A questionnaire will be utilised in a quantitative research method to gather primary data from Malaysian online customers who have made purchases from LSS and are between the ages of 18 and 59. Statistical Package for Social Science (SPSS) and Partial Least Squares Structural Equation Modelling (PLS-SEM) will be utilised to analyse the data that has been obtained. It is anticipated that the research’s findings will demonstrate that e-commerce LSS features will boost customers’ purchase intention and that this relationship will be mediated by customers’ trust. In addition, this research will have implications for live-streamers, online merchants, and policymakers who aim to target LSS in Malaysia by providing strategies for satisfying customers’ requirements and demands in terms of merchandises and services. Besides that, this research will add to the body of knowledge available to scholars in the future who are interested in this field.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241075

    Study on Cost Control of Construction Enterprises in the Context of the COVID-19 - A Case Study of China Construction

    Coming into the post-pandemic, the influences that this COVID-19 had on the construction and built environment create a less of cost to be used in managing the captured events. The following research project is designed to evaluate how the outbreak of the coronavirus epidemic has affected cost management behavior within enterprises in the field of construction including construction within the China economy. Through a synergetic approach, the grey correlation model and the value engineering method have been combined giving a financial cost control model that can vouch for the challenges appearing in the post-pandemic business context. The data on timeline change and expense allocation in accommodation related adjusted processes, in turn, models the new routines of work for the industry. The results of my research make it clear that various changes need to be implemented mostly in cost management practices. This help in improving resilience and risk minimization is the most important.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241034

    Research on the Impact of Coal Prices on BYD's Stock Price

    Nowadays, the impact of the epidemic is gradually weakening, China's industry is beginning to recover, and with its demand for energy is increasing. In this regard, coal is one of the main raw material for thermal power generation in China, and fluctuations in coal prices have a major impact on enterprises and the national economy. This paper selects BYD, a leading enterprise in the field of new energy in China, as the research object to study the impact of coal price changes on BYD's stock price. This paper selects the thermal coal index and BYD stock price from January 1, 2019 to January 29, 2024 as research data, and constructs a var model to study the relationship between coal prices and BYD stock price. Moreover, this paper uses the Granger causality test to investigate whether coal prices will affect BYD's stock price, and also conducts impulse response to study what kind of impact changes in coal prices will have on BYD's stock price. The research results of this paper help maintain the stability of the new energy market and the national economy. This paper concludes that changes in coal prices will have a negative impact on BYD's stock price.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241116

    Research on the Development Status and Problems of JD's Integrated Supply Chain Logistics

    There are many e-commerce platforms in China, and JD.com is one of the well-known platforms of the 3C (Computers, Communications, and Consumer Electronics) network. It is one of the most popular and influential e-commerce websites in the field of Chinese e-commerce, and its integrated supply chain logistics have become the key to its core competitiveness. This paper aims to analyze the current development status of JD's supply chain logistics and explore the main problems it faces. Through literature review, this paper first provides an overview of JD's logistics system, including the logistics model based on JD.com and the development layout of the integrated supply chain logistics model. Subsequently, through SWOT analysis, the advantages, disadvantages, opportunities, and threats of JD's logistics model were evaluated. Through analysis, this paper points out that JD has problems in terms of supply chain logistics management level, logistics informatization level, and professional talents.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241059

    An Analysis of the Elderly Consumption Behaviour Based on Behavioral Economics

    The phenomenon of population ageing has become a significant issue in the majority of countries worldwide, particularly in developed countries. Many countries are now exploring the elderly consumer market, hoping that the spending power of senior citizens can boost their national economies. However, due to factors such as the decline in cognitive ability with age, changes in social circles, and technological advances, the elderly may exhibit irrational decision-making behaviors that are difficult to judge, making it challenging to regulate the senior consumer market. Some industries even find themselves teetering on the edge of legality. This paper focuses on the characteristics of elderly consumer behaviour and analyses them through the lens of behavioural economics. Qualitative analysis, comparative analysis, and other methods are employed to study cognitive biases, social influences, as well as time preferences in the decision-making process. In addition, specific research is conducted on the unique aspects of the older population compared to other age groups.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241083

    Sustainable Beauty: A Conceptual Paper of How Sustainable Marketing Impact Consumer Behaviour in the Cosmetic Industry

    This conceptual paper outlines the impact of sustainable marketing on consumer behaviour in China's cosmetics industry. With the severe environmental changes and people's environmental protection awareness, consumers are more likely to buy environmentally friendly products when buying cosmetics. The study demonstrates the role of sustainability in changing consumer buying habits, highlighting the cosmetic industry's shift towards environmentally friendly and ethical approaches. It highlights the sector's challenges, particularly in production and management, which pose serious sustainability issues. By taking a closer look at how sustainable marketing influences consumer choices and buying patterns, this study aims to reveal how eco-friendly buying habits, ethical considerations, and environmental awareness drive demand for beauty products. Through the literature review, this study discovers the trends in this industry, such as the growing interest in cleansing beauty products and the shift of consumer behaviors towards sustainability. It also builds a framework linking sustainable practices to consumer behaviour, which is based on the interplay between consumer purchase considerations and sustainable practices.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241049

    The Application of Statistical Methods in Social Media Marketing Effectiveness Evaluation

    With the popularity of social media, social media marketing has become an integral part of corporate marketing strategies. However, due to the continuous changes in social media platforms and marketing strategies, effectively evaluating the effectiveness of social media marketing activities has become a focal point of concern for businesses. Therefore, researching statistical methods and applications for evaluating the effectiveness of social media marketing is of both theoretical and practical significance. This article adopts a literature review approach to analyze relevant studies on the evaluation of social media marketing effectiveness in recent years, summarizing the current research progress and existing problems. The main research content of this article includes an analysis of social media user behavior, an evaluation of social media advertising effectiveness, an assessment of social media communication effectiveness, surveys on social media user satisfaction, and long-term tracking and analysis of social media marketing effectiveness. These research contents contribute to a better understanding of the actual effects of social media marketing activities for businesses, thereby optimizing marketing strategies and increasing marketing efficiency and return on investment. This study concludes that statistical methods and applications for evaluating the effectiveness of social media marketing are significant both theoretically and practically. Through in-depth mining and analysis of social media data, researchers can reveal the patterns behind social media marketing activities, providing decision support for businesses.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241027

    The Dynamics of Corporate Social Responsibility (CSR) in Shareholder Activism and Cross-Cultural Management

    This research sought to examine the dynamics that hinder CSR from becoming an instrument of cross-cultural stakeholder engagement, examine the possible usefulness of CSR as a cross-cultural communication and engagement device and provide recommendations on designing the incorporation of shareholder activism and cross-cultural management practices into a company’s CSR initiatives. The research design was qualitative involving semi-structured interviews with 10 experts and practitioners in CSR, shareholder activism and cross-cultural management. The data were analysed through familiarisation, initial coding, searching for themes, reviewing and defining themes. The study points out that the ‘intangible’ nature of CSR benefits, and the fact that the expectations of consumers and publics can be ‘more volatile and dynamic, are key challenges for making shareholder activism work in alignment with CSR’. However, the study also finds that CSR initiatives can become productive tools for cross-cultural communication and communication with multiple stakeholders, building bridges so all are able to communicate, compare and share understandings. The report recommends that firms to be more proactive in engaging with shareholder activism and helping shareholder activists understand the motivations and limitations for CSR initiatives.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241033

    Exploring the Strategies and Effects of Green Certificates in Promoting New Energy Development

    In the critical period of global energy structure transformation, the development and utilization of new energy have become an important force in promoting sustainable development. Green certificates, as a market-oriented environmental policy tool, play a crucial role in fostering the development of the new energy industry. This paper delves into the issuance and trading mechanisms of green certificates, incentive policies, and their implementation effects internationally, exploring how green certificates effectively promote the expansion of the new energy market and technological innovation, while assessing their contribution to environmental protection. The research findings indicate that, although green certificates have achieved some success in driving the development of the new energy industry, they face challenges such as market acceptance and insufficient policy support. The article concludes with strategic recommendations for optimizing the green certificate system, aiming to provide theoretical support and practical guidance for the improvement of relevant policies.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241084

    The Existing Problems and Model Analysis of Supply Chain Management in Traditional Chain Retail Enterprises ---- Take Walmart as an Example

    As the retailer that has ranked at the top of the Fortune Global 500 consecutively, Walmart is regarded as an enterprise including three store forms, namely Walmart Shopping Center, the Walmart Community Store, and Sam's Warehouse Membership Store. After establishing more than 10,000 businesses in 27 different countries all over the world, Walmart's sales have been characterized by the globalization of its supply network. Walmart's offline retails were no longer restricted to the shopping malls and e-commerce platforms that operated in its birthplace, the United States. Taking advantage of optimization management in the supply chain, it gradually transformed from traditional offline shopping to new retail through digital transformation, possessing an outstanding brand effect. Walmart provides a comprehensive "one-stop" shopping service for differentiated consumer groups, while also fostering the concept of win-win cooperation between upstream and downstream corporations. Ultimately, Walmart will improve the enterprise's long-term market competitiveness and allocate more market share. This paper aims to analyze the cost management mode of traditional retail enterprises, especially the inventory management mode, in order to explain how to reduce unnecessary losses in the whole system of the supply chain, optimizing the allocation and minimizing inventory for maximized profit.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241099

    The Value of Female Entrepreneurs in Social Entrepreneurship Processes in Emerging Markets

    The growing prominence of emerging markets has led to increased recognition of the distinct value that social entrepreneurship offers to the community in recent years. The field of women's entrepreneurship has experienced significant development. Early research indicates that women's inclusive, sympathetic, and emotional traits are more suitable for leading social entrepreneurship. However, researches on gender in social entrepreneurship remain limited,, necessitating further investigation by a greater number of experts. This paper uses a literature review and case study approach to explore the role and influence of female entrepreneurs in social entrepreneurship. Three cases of women social entrepreneurs from different cultural contexts in China and India are mentioned in the article, providing an opportunity for conducting cross-cultural researches on social entrepreneurship. The article also analyses the importance of social networks for female entrepreneurs, including support from family, partners, and friends. This study offers valuable research insights on the impact of social networks on the decision-making process, resource accessibility, and likelihood of success for women entrepreneurs. This study provides useful insights into the policy measures that should be implemented by the government, the community, and banks, such as relaxing policy restrictions, eliminating stereotypes and creating more opportunities, thus helping more women to blossom on the path of social entrepreneurship.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241054

    ESG Initiatives and Branding in Food and Beverage Industry (US)

    The integration of Environmental, Social, and Governance (ESG) principles into branding strategies has become crucial for success in the highly competitive and sustainability-conscious food and beverage industry. This paper examines the impact of ESG initiatives on brand perception, customer loyalty, and financial performance through a comprehensive review of case studies and sustainability reports from major companies such as PepsiCo, Coca-Cola, and McDonald's. The analysis reveals that aligning ESG practices with a company's core identity and purpose enhances brand equity, builds consumer trust, and provides a competitive edge. The luxury sector faces unique challenges in incorporating ESG while maintaining its exclusive appeal, but emphasizing authenticity and genuine commitment to sustainability can effectively meet evolving market demands. As consumer expectations shift towards ethical and responsible brands, companies that strategically integrate ESG into their branding efforts position themselves for long-term resilience and success while contributing to the well-being of society and the environment. The ongoing intersection of ESG and branding is significantly shaping the landscape of modern brand management, with far-reaching implications for the future of the food and beverage industry.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241036

    The Principle of Tripartism in China, the United Kingdom and the United States: A Case in Labour Relations

    The tripartite principle is a fundamental principle adopted in various types of pluralistic societies to adjust the conflicting interests of labor and capital.Also it is one of the long-standing international labor standards advocated by the International Labour Organization (ILO). It is the fundamental structure of labor relations in market economies in the West and an indispensable model of adjustment in the socialist market economy system with features unique to China. The tripartite principle seeks to improve communication, remove misunderstandings, negotiate dispute resolutions, and expand prospects for consensus among governments, employers' organizations, and workers' organizations.Based on the three nations' respective unemployment rates, the following conclusions were reached.. In the past, the inception, changes, and development of the tripartite principle have relatively eased labor-capital relations in countries such as China, the UK, and the US. Since the 1980s, the deepening of economic globalization has brought changes to the economic structures of three countries and has also made their relations closer. The major effect of the government's numerous policy changes has not been substantial, and stable labor relations are essential to keeping unemployment rates low. To foster social stability and economic growth in the future, the tripartite concept will need to be continuously modified to keep up with contemporary trends.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241068

    The Impact of FDI Technology Spillovers on Local Firms' Innovation——Based on the Dualistic Perspective of Exploratory and Exploitative Innovation

    Despite the fact that China has been facing huge technological spillovers from foreign direct investment (FDI), the situation of China's key core technologies being controlled by others and the risk of "being hit in the throat" still exists. Based on the unbalanced panel data of 2,239 non-foreign listed companies in the manufacturing sector in China from 2012 to 2022, this paper investigates the impact of FDI technology spillovers on the binary innovation of local firms in the host country by using a two-way fixed effects model. It is found that FDI technology spillovers promote the overall level of innovation and the level of utilized innovation of local firms in the Chinese manufacturing industry, but have a dampening effect on the level of exploratory innovation.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241051

    The Impact of FTX's Bankruptcy on US Pension and Implications for Hong Kong Pension

    This study aims to explore the impact of FTX, a once-prominent cryptocurrency platform that boasted over 1 million active users globally and held the third-largest market share in trading volume, on the stability of the entire United States. FTX's subsequent bankruptcy has reverberated through various assets, including major cryptocurrencies like Bitcoin and Ethereum, directly influencing the expansive pension industry within the United States. Considering this, our research endeavors to conduct a comprehensive examination of how FTX's insolvency has affected price dynamics within the primary investment sectors of U.S. pension funds. Additionally, we seek to investigate the repercussions on investment strategies and the diversified approaches adopted by these funds. Through this analysis, we aim to provide both theoretical frameworks and practical insights to support the evolution of the pension industry, not only in the United States but also for the broader global financial landscape.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241058

    The Effects of Delayed Consumption Rituals Versus Demonstrated Consumption Rituals on Consumption Behavior

    Delayed enjoyment and demonstration consumption rituals have become an integral part of people's lives in modern consumer societies. With the accelerated pace of society and evolving consumption patterns, these two consumption behaviors have had a significant impact on consumer decision-making processes and market dynamics. In view of this, this study focuses on the effects of delayed versus demonstrative consumption rituals on consumer behavior and attempts to analyze the psychological mechanisms behind them. The aim of the study is to reveal how operators enhance the consumption experience through delayed gratification and demonstration of consumption rituals, and how these behaviors affect their purchase decisions and consumption satisfaction. This study utilized both questionnaire and experimental methods to collect extensive data from consumers of different ages, genders and socio-economic backgrounds, respectively. Also, to ensure the accuracy and comprehensiveness of the findings, the researcher used a combination of literature analysis and case studies to support the empirical study. Through in-depth analysis of the collected data, this dissertation finds that delayed consumption rituals significantly increase consumers' anticipatory pleasure and subsequent satisfaction, while demonstration consumption rituals deepen the emotional connection between consumers and products in social interactions. The results suggest that these two consumption rituals can effectively increase the perceived value of the product and promote consumers' repeat purchase behavior to some extent. In addition, the results reveal the role of cultural differences in consumption rituals, with consumers from different cultural backgrounds displaying different behavioral patterns when confronted with delayed versus demonstration consumption rituals.

  • Open Access | Article 2024-06-21 Doi: 10.54254/2754-1169/93/20241126

    Understanding the Complexity of Intention to Stay: Influencing Factors and Strategic Insights for Enhancing Employee Retention

    Based on a comprehensive literature review, this paper clarifies that intention to stay is a multifaceted phenomenon shaped by individual characteristics, organizational environment, and external market conditions, it is not simply the opposite of intention to leave. While intention to leave focuses on why employees leave, intention to stay emphasizes positive connections and long-term commitments with the organization. For effective human resource policies and retention strategies, it is crucial to analyze intention to stay separately from intention to leave, this distinction helps in understanding employee motivations and enhances organizational competitiveness. Future research should explore the specific interactions between these intentions to further enhance organizational competitiveness, especially with the rapid changes in work environments and technological advancements.

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