Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 3rd International Conference on Business and Policy Studies

    Conference Date






    978-1-83558-267-1 (Print)

    978-1-83558-268-8 (Online)

    Published Date



    Arman Eshraghi, Cardiff Business School


  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241328

    The Benign Brand Operation of Professional Sports Leagues: A Case Study on Real Madrid

    Real Madrid's profitability continued to grow during the epidemic period, making it a rare club in Europe to still be profitable during COVID-19. Based on this event, the purpose of this exploration was to exploare what kind of management style and business strategy Real Madrid used during the epidemic period of 2019–2022. Using Real Madrid as a case study, this paper analyzed the information sources applied to Real Madrid's revenues in different aspects as well as Real Madrid's business formula. The first reason was Real Madrid's market management philosophy, and the corresponding recommendation was to increase fan loyalty by strengthening the development of the players and improving the rights of the fans, along with digital marketing tools. The second reason was Real Madrid's excellent youth training system, and the corresponding recommendation was to make more use of modern data analysis systems to track the development of each player. The third reason was Real Madrid's team culture, and the recommendation was to utilize the celebrity effect to promote the team's culture. The main objective of such an exploration was to help national soccer clubs learn from Real Madrid's successful management model to improve their profitability.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241329

    The Effectiveness of Football Economy Empowers Socio-Economic Development: A Case Study of Cristiano Ronaldo

    This article primarily used Cristiano Ronaldo's 2018 transfer to Juventus F.C. Club as a case study to analyze and summarize how the star effect brought about by Cristiano Ronaldo in this event promotes the development of the football economy while empowering socio-economic development. Through case analysis, this article concluded in three aspects. In the football industry sector, the signing of football stars had positive effects on both the team and the league. It was recommended that the league and clubs introduce players with strong personal abilities as needed and actively exert their social influence to promote the development and improvement of the club and league. In the social development sector, the joining of football stars will promote the development of related industries. It was recommended that all regions attach importance to the development of football and actively promote the empowerment of the football economy in the social economy. At the same time, there were certain shortcomings in the model of empowering economic development through sports stars. It was recommended that players establish a good social image and moral literacy.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241337

    Important Drivers of European Monetary Integration ——The Game Between the German Central Government and the Bundesbank as an Example

    An independent central bank constitutes a veto actor in the political process itself and has the potential to limit the autonomy of the State (Government). In cases where the preferences of the state and the central bank diverge, the resulting authoritative actions will be influenced by the political structure of the respective country. Where changes in the domestic political system are difficult to achieve, the state can change the existing equilibrium between the central bank and the government by engaging in international regimes and international negotiations and evolving this equilibrium in the direction of greater state autonomy. This paper adopts a case study approach to propose a domestic political logic for international monetary policy choices by analyzing the relationship between international monetary co-operation, central bank independence and national autonomy, and uses the political game between the central central bank and the central government within Germany and the outcome to verify this view, thus providing a political science explanation for the relationship between German monetary politics and European monetary integration. The European Central Bank after the formation of the Union inherited the independence of the German central bank, and while assuming its responsibility for monetary stabilization and economic development, it gradually transcended the scope of its monetary functions and transformed itself from a purely technical institution to an important political player in the regional political and economic arena in the process of the already existing institutional constraints and changes in the economic situation.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241339

    Adapting to Turbulence: How Global Retail Giants Navigate Trade Wars and Reshape International Trade Norms

    More than just a part of the economic landscape, retailing has a profound impact on society, culture, and the market economy. As an integral part of the economic ecosystem, retailing provides goods and services to consumers and is also an enabler of economic growth, closely linked to other industries. Global retail giants play an important role in international trade by increasing supply chain transparency and encouraging suppliers to comply with ethical labor practices and environmental standards. This commitment to sustainability and social responsibility is consistent with the emphasis on fair labor practices and environmental stewardship in international trade norms. However, significant challenges arise when confronted with the trade-off between national interests and the interests of transnational corporations on the global stage. Governments often aim to protect domestic industries and jobs, which may conflict with the interests of global retailers in having smooth access to global markets. Finding the right balance between these interests remains a perennial challenge in international trade discussions. In addition, the burgeoning trade war between the United States and China has had varying degrees of impact on the retail industry. Therefore, this dissertation will delve into the new challenges and changes faced by retail giants in the context of the trade war.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241340

    The Dilemma of Workers’ Rights and Its Legal Protection: Based on the Background of Economic Globalization

    With the deepening of economic globalization, its impact on labour law has attracted increasing attention, bringing with it both opportunities and challenges, and this article focuses on some of the issues that arise. Based on the Rana Plaza collapse case in 2013, the authors use a combination of economic and legal literature to analyse the causes and consequences of failing to address three issues: unfair treatment, supply chain expansion, and the new form of work, “gig work”. The study found that the causes of the three problems are strongly related to the neglect of labour rights by multinational enterprises in the pursuit of maximum profits in a globalized economy. If the world does not address this in a timely manner, it will have a significant negative impact on labour mobility and on the future of labour-enabled economic development. The paper therefore suggests that countries can achieve a healthy and sustainable workforce by strengthening international cooperation, leveraging the role of international organizations while empowering civil society trade unions, and continuously improving labour laws, thereby contributing to sustainable economic development and social justice.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241342

    On the Feasibility Analysis of Introducing Foreign Capital into Education, Medical and Other Industries

    Because there are huge differences between Chinese and Western ideology and cultural development, but the current trend of economic globalization is irrecontradicable, so it is helpful to introduce foreign investment while insisting on domestic enterprises going global. However, when introducing foreign investment, it is inevitable to encounter many problems, such as not being controlled by the Chinese government or being too strong in foreign investment, which will drive our domestic enterprises to the brink. At the same time, these foreign investments can play their role in China's land and promote its economic development. This requires the rulers to formulate a package of fair and effective policies to promote its development. The two major fields of education and healthcare are related to the ideology and physical health of the people, and therefore are the foundation and foundation of the country. In order to ensure the long-term prosperity of the country and social stability, it is necessary to attach great importance to the guidance of these two aspects. It is necessary to consider the entry of foreign investment into China as a good thing. Meanwhile, it is a good way to allow foreign investment to play a positive role in promoting technological change and capital flow in these two fields. At the same time, it is necessary to control the power of capital and not let it control the foundation of our country, as this will shake national security.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241345

    Intellectual Property Protection in Cross-Border E-Commerce

    With the rapid development of Internet technology, electronic trade has become a significant player in the national and global economy. This thesis examines the complex issues surrounding intellectual property rights (IPR) in cross-border electronic trade. The rapid growth of internet technology has led to an increase in transnational economic disputes, particularly in online shopping platforms and e-commerce websites. The presence of pirated products, trademark counterfeiting, brand infringement, and copyright protection are major concerns in this context. Several factors contribute to these disputes, including different legal systems, cultural backgrounds, economic development levels, conflicting interests of countries, and varying stakeholder attitudes towards IPR protection. Notable cases, such as the Apple-Samsung patent dispute and the challenges faced by Alibaba regarding counterfeit goods, highlight the need for comprehensive solutions to safeguard IPR in a globalized marketplace. The thesis also explores how technology can contribute to addressing these challenges. Blockchain technology can provide enhanced security, transparency, and efficiency in managing intellectual property rights. Big data and artificial intelligence can automate the analysis and monitoring of digital content, enabling faster identification and action against infringement. Establishing global collaborative IP protection platforms and innovative dispute resolution mechanisms are also crucial steps forward.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241346

    The Correlation Between the Macroeconomic Indicator PMI and Private Equity Investment

    This paper presents an in-depth analysis of the correlation between China’s manufacturing PMI and private equity investment from 2015 to 2022, utilizing correlation and regression analysis methods based on both overall and structural data. The findings reveal a moderate correlation between manufacturing PMI and private equity investment. Specifically, manufacturing PMI demonstrates a predictive effect on private equity investment, with a lead time of one to two quarters. This accounts for 27.7% of the variation in private equity investment. Furthermore, employing the VAR model, this study observes a significant positive effect of manufacturing PMI on private equity investment, with significant positive impacts found during the two and six lagged periods. These results align with the leading indicator characteristic of PMI and suggest that private equity investment serves as a “barometer” for the capital market. Additionally, this paper investigates the correlation between manufacturing PMI and different stages of private equity investments (early, venture capital (VC), and PE investments) while also analyzing the correlation between manufacturing PMI and private equity investments from different funding sources, including RMB and foreign currency private equity investments. The results indicate that, akin to private equity investment in general, early, VC, and PE investments exhibit varying degrees of correlation with manufacturing PMI. Moreover, foreign currency private equity investment demonstrates a stronger correlation with manufacturing PMI compared to RMB private equity investment.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241348

    Research on the New Power of Car Making Ideal Car

    In response to the escalating depletion of fossil fuel reserves and the detrimental environmental impacts of conventional internal combustion engine vehicles, the global automotive industry is undergoing a transformative shift towards clean, sustainable, and energy-efficient new energy vehicles (NEVs). This article scrutinizes the remarkable ascent of Ideal Cars, a prominent player in the burgeoning Chinese NEV market. In light of these developments, this scholarly examination explores the multifaceted determinants underpinning Ideal Cars' remarkable trajectory, encompassing its foundational evolution, distinctive technological orientation, nuanced user-centric approach, financial performance, scene-based marketing strategies, and innovative organizational structure. This comprehensive analysis underscores the imperative nature of consumer-oriented product design, the psychological aspects of consumer satisfaction, and the paramount influence of market dynamics in shaping the success of high-end automotive ventures. Ideal Cars' unprecedented journey serves as an instructive case study for the prospective evolution of the NEV industry in China and globally.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241351

    Foreign Direct Investment’s Role in Bolivian Economy

    In the context of globalization, one country’s economic growth is affected by the internationally traded goods and services and cross-border investments. It is known that in countries, especially the developing countries, foreign direct investment (FDI) plays a very transcendent role in realizing economic expansion and fostering development by supplying capital in need. This paper examined whether Bolivia´s economy is in conformity with the expectation for FDI by using time-series data from 1990 to 2018. The multiple regression analysis reflects a positive relationship, which is statistically significant, between foreign direct investment, economic size, and total exports in Bolivia. The Granger causuality test supports FDI’s effect on exports but does not find causuality for GDP. Therefore, we propose a long-term policy support for FDI to drive future Bolivian economic growth as well as its export expansion.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241356

    2008 Financial Crisis: Analysis and Guidance

    The 2008 financial crisis in the United States severely impacted the global economy. Amid an escalating crisis, the US government implemented a series of bailout policies, which stabilized the domestic market and contributed to global economic recovery. This paper aims to investigate the reasons for the crisis and analyze the advantages and disadvantages of the policies implemented to derive recommendations for preventing and managing financial risks. Studies have indicated that effective government intervention through regulatory policies can prevent bank failures and the deterioration of financial crises. This provides valuable insight for dealing with potential financial risks posed by the Ukraine crisis and the COVID-19 pandemic. The findings of this research highlight the importance of implementing effective regulatory measures to safeguard the financial sector's stability.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241358

    Golden Arches Across Cultures: Understanding McDonald’s Global and Local Consumer Behavior

    Amidst globalization, the fast-food industry, notably brands like McDonald's, has attracted significant interest. McDonald's dominates in the U.S. and has seen remarkable success in markets like China. Yet, despite its global image, differences in marketing and consumer behavior exist between these nations. This study aims to dissect the distinctions between McDonald's in China and the U.S., focusing on product adaptability, advertising, and consumer behavior. The intent is to grasp how global brands localize in varied cultural environments. Historically, McDonald's transitioned from a U.S. local brand to a global powerhouse. The U.S. formed its foundational market, while China presents both vast opportunities and challenges. Key questions addressed include McDonald's product adjustments for diverse cultures and whether advertising should be country-specific. To answer these queries, this paper mixes qualitative and quantitative research. Data will be sourced from consumer surveys and interviews, and a thorough analysis of McDonald's advertising in both nations. Secondary data will also be examined for a holistic view. This approach aims to pinpoint McDonald's strategic adaptations and potentially guide other global brands in localization endeavors.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241360

    Financial Analysis of Netflix with a Strategic Approach

    In the ever-evolving landscape of the entertainment industry, Netflix has emerged as a dominant force, fundamentally reshaping how audiences consume content. This paper delves into the financial intricacies of Netflix, a global streaming giant that has become synonymous with on-demand entertainment. This paper’s objective is to conduct a comprehensive financial analysis, scrutinizing key performance metrics, and dissecting strategic choices that have promoted Netflix’s meteoric rise. Using financial ratios, cash flow analysis, and assessments of profitability and leverage, I investigate Netflix’s financial health and performance over the past five years, and the strategic maneuvers undertaken by the company, including content acquisition, international expansion, and original content production, to understand their implications on Netflix’s financial outcomes. This paper unveils a nuanced understanding of Netflix’s financial position, providing insights into the company's profitability, liquidity, and market impact. Beyond those, this analysis explores the strategic decisions underpinning Netflix’s financial success and their broader implications on the media and entertainment industry. Furthermore, this research has relevance for investors and analysts navigating the evolving landscape of digital content delivery.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241363

    Enterprise Management and Risk Assessment Analysis Practice

    Finance is the core competitiveness of the country. Since the reform and opening up, China's financial industry has developed rapidly and made historic achievements, but there are still many contradictions and problems that make it difficult to meet the requirements of high-quality economic development. First, the debt problem: China's enterprises, local governments and household sectors are all facing considerable debt pressure. Some enterprises and local governments have hidden debts, and the debt of the household sector is also increasing. This poses a risk to the stability of the financial system.Second, financial institution risk: Some financial institutions have risks, including credit risk and liquidity risk. Some non-bank financial institutions have relatively low capital adequacy ratios and are potentially at risk of default.Third, financial chaos: some financial chaos problems still exist, such as illegal fund-raising, online financial fraud and so on. These issues challenge the effectiveness of financial regulation and public trust in the financial system.Fourth, structural problems in the financial system: there are some structural problems in China's financial system, such as insufficient interaction between the banking sector and the capital market, and relatively low efficiency of financial resource allocation. These problems constrain the development of the financial system and sustainable economic growth.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241364

    Economic Growth in China: The Impact of Globalization

    Globalization is an intrinsic part of today’s economic exchanges. This research investigates the impact of globalization on China’s economic development. For inferences, it relies on a comprehensive literature review of relevant material published within the last 10 years. The focal themes in the literature review include knowledge transfer, trade expansion, and FDI. Consequently, the study concludes that globalization has had a substantial impact on China's economic development. It establishes that China has been able to close the technological divide, expand its industrial base, and boost productivity as a result of technology transfer in and out of the country. Furthermore, China has become a major exporter given the trade expansion involved in globalization. The resultant FDI has aided China's economic growth by facilitating infrastructural and industrial growth. China's human capital growth is enhanced by the transmission of knowledge through collaborations and educational exchanges. Future studies should, however, examine the nuances of economic growth through the globalization prism.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241365

    The Trend and Spillover Effect of Fed's Interest Increase Policy

    Since 2022, the Federal Reserve has started a new round of rapid rate increase process due to the continuous rise in inflation. However, due to the combined effects of the epidemic and the conflict between Russia and Ukraine, the impact of the current Fed rate hike on the global economy and finance is different from previous cycles. Based on the recent stance of the Federal Reserve, the market generally judges that the current round of interest rate increase cycle of the Federal Reserve has come to an end. This paper discusses when and how the Federal Reserve will cut interest rates. At the same time, relevant suggestions are put forward on how to prevent the spillover effect of the Fed's interest rate hike. Through way of qualitative analysis, the author believes in how to balance the three goals of inflation elimination, employment stabilization and financial stability, or the main line of the monetary policy decision of the Federal Reserve in the future.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241366

    Evolution Trends and Market Impact Analysis of Fintech: Based on the Case Study of Williams

    The development of financial technology is a double-edged sword, which not only breaks the traditional technical barriers between financial enterprises and technology companies but also makes finance and technology fully integrate together and release much economic vitality. But at the same time, the regulatory problems brought by financial technology and the uncertainty of the development of the industry have also produced a certain negative threat to the market. As a third-party payment company, Williams Company has made many pioneering efforts in the development of financial technology and has also made a series of achievements in the past years. Taking the development of this company as a case study, we will discuss the evolution trend of financial technology and the problems existing in the development process of financial technology, which will open our vision, strengthen supervision and promote scientific and technological progress. It is of obvious value.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241368

    The Impact of China’s Carbon Market Trading on the Production Cost of Enterprises

    The growth of China's carbon market, from its origin to its current size, demonstrates the country's dedication to corporate involvement and carbon reduction. Businesses' operations, risk management, investor relations, innovation culture, and level of global competitiveness are all profoundly impacted by carbon trading. It elevates sustainability from a policy compliance to a long-term success strategic necessity in a climate-focused world. The significant implications of China's carbon market on company behavior are thoroughly examined in this essay, including how they affect production methods, innovation, social responsibility, goal-setting, and future directions. Considering industry differences, profit consequences, and increasing investments in ESG principles, it also analyses their impact on business carbon emissions and financial indicators. In the end, the paper explores the complex connection between carbon emissions and business practices, highlighting the wide-ranging ramifications of China's carbon trading market on enterprise operations and sustainability strategies.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241374

    The Effects of Information Asymmetry on Audit Fees

    Audit fees refer to the financial compensation received by accounting firms and auditors in return for the delivery of their professional services. These services encompass a range of operations, including the analysis of financial statements, evaluation of internal controls, and performance of numerous other tasks linked to auditing. Typically, organizations remunerate external audit firms for their services through fees, which can be either annual or based on the specific services rendered. The remuneration for audit services is commonly subject to variability, with adjustments made based on the particular audit engagement's scope and complexity. This paper delves into the correlation between information asymmetry and audit fees. The concept of information asymmetry arises when there is an unequal distribution of information between two parties involved in a transaction, leading to an imbalance in knowledge. This phenomenon has a notable influence on the determination of audit fees. This paper examines the theoretical underpinnings, empirical findings, and practical ramifications of the impact of information asymmetry on audit costs and the quality of audit services. The work analyzes the elements that contribute to information asymmetry by conducting a comprehensive review of current literature and empirical studies. Through this analysis, the study sheds light on the complex dynamics between information asymmetry, audit fees, and audit quality.

  • Open Access | Article 2024-01-05 Doi: 10.54254/2754-1169/68/20241375

    Mergers and Acquisition in the Fashion Industry

    On August 10th, 2023, Tapestry Inc., the parent company of renowned fashion brand Coach, announced a definitive agreement to acquire Capri Holdings Limited, which owns the iconic brands Michael Kors, Versace, and Jimmy Choo. This move signals the company’s aspirations to establish a powerful global portfolio of ironic luxury brands, one that would rival European conglomerates LVMH, Richemont, and Kering. Merger and Acquisition is a strategic tool utilized by organizations worldwide to adapt to the demands of today’s dynamic business environment. This strategy has gained significant attention and prominence in the fashion industry. Therefore, this study employs profitability metrics, liquidity metrics, and credit metrics to assess the post-merger financial performance of a select group of fashion companies, thereby gauging the effectiveness of the M&A tool. Results of this study show that there are no significant improvements in financial performance following the merger and acquisition.

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