Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 7th International Conference on Economic Management and Green Development

    Conference Date






    978-1-83558-109-4 (Print)

    978-1-83558-110-0 (Online)

    Published Date



    Canh Thien Dang, King's College London


  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232171

    Explore China-Africa Relations Through China-Africa Trade Exchanges

    In recent years, with the deepening of economic globalization, the trade between China and African countries has become increasingly close. The trade between China and Africa has brought economic growth to China and African countries, consolidated the friendly relations between the two sides, and also led to some frictions and disputes. The economic and trade cooperation between China and African countries began as early as around the 1950s. On May 30,1956, Egypt and China established diplomatic relations at the ambassadorial level. It was the first country in Africa to establish diplomatic relations with China, opening a new chapter in China-Africa relations. Since then, China has maintained increasingly close ties with African countries and has established diplomatic relations with more African countries. On this basis, China and African countries have also gradually started economic and trade cooperation. China has helped many African countries to carry out infrastructure construction, promoted the economic development of African countries, and also helped them to enhance their international status to a certain extent. The economic and trade relations between China and East African countries are generally improving, but there are still many problems and instability. Only by carrying out trade in the right way can the friendly relations between China and African countries be maintained.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232174

    Analysis of the Tactics of NBA Pricing Tickets

    Despite the effects of the economic crisis, the United States has maintained its position as a global leader in the innovation of professional sports development, drawing attention to the progress of its professional stadiums. The ultimate goal of stadium marketing is to attract more spectators to enter the stadium to watch the game and bring more economic income through the sale of tickets, and the audience needs to buy corresponding tickets to enter the stadium to watch the game according to their own needs, so that the price of tickets can have interactions between the audience and the stadium. This study combines a literature review and critical analysis to investigate NBA ticket pricing. The paper confirms that, in general, ticket prices go up as proximity to the action on the field increases, and that teams based in large basketball markets charge more than those in smaller markets.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232175

    The Impacts of Online Reviews on Consumers’ Purchase Intention of Video Game Items in China

    As an important vehicle for audiences to gain information about video game items, online reviews have been wildly leveraged by game developers to conduct influencer marketing to promote game items in China. However, the commercial nature of sponsorship could threaten the perceived trustworthiness of influencers and online reviews. To achieve this, a valid sample of 289 Chinese game players was collected through the questionnaire survey, and experimental research with a between-subject design was conducted to compare the purchase intention of video game items in different consumer groups that were exposed to three types of reviews. The study’s key finding is that sponsored influencer reviews will lead to lower consumer purchase intentions, compared to both user-generated reviews and influencer reviews.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232176

    Analysis of Walmart’s Marketing Strategy in the Context of New Retail

    With continuous innovation and wide application of technologies such as the Internet and big data, the Internet economy has flourished, laying the foundation for the transformation of physical retailing to new retailing. The main advantage of new retailing lies in the combination of the quality experience of physical stores with the high efficiency of online retailing, which points the way for the development of the retail industry. Taking Walmart Company, a world-renowned retail industry giant, as a case study, the paper adopts the 7PS marketing mix theory to study the current marketing situation of Walmart Company. The research found that Walmart has problems such as unreasonable packaging and display of some products and an inefficient logistics supply chain. To this end, this paper proposes optimization solutions including the improvement in product quality, the investment in intelligent information technology, and the construction of a centralized supply chain management model.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232178

    Research on the Transformation of Enterprise Management from Financial Accounting to Management under the Digital Environment—Take HUAWEI as an Example

    With the continuous development of technology, the updating and iteration of scientific and technological achievements are accelerating. Under the background of the increasing popularization of information technology and network technology, the era of big data is gradually coming. In recent years, Chinese private enterprises led by Huawei have developed rapidly and gained popularity in the world. Meanwhile, Huawei is also an important technology-oriented and research-oriented enterprise in China. With continuous innovation, Huawei has made outstanding contributions to China's chip technology development and 5G development. Huawei is committed to bringing the digital world into all fields, building a smart world where everything is connected, and making all industries and organizations agile, efficient and vibrant thanks to a powerful digital platform. The success of the external market cannot be separated from the effective and orderly internal control management of the enterprise. This paper analyzes the strengths and weaknesses of Huawei's internal control management by comparing the internal control policies and practices of other types of enterprises, and puts forward relevant suggestions. This paper uses the literature research method to conduct the study. Finally, this paper finds that Huawei's transition from financial accounting to management accounting is at the forefront of the industry in terms of ideas, technology and actions, which is worth learning from many other enterprises.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232179

    Recovery of the Industrial Economy after Covid-19

    The COVID-19 outbreak has had a huge impact on the global economy, especially on the industrial economy. A large number of companies face the risk of stagnant production and declining revenues, as well as the risks of employee turnover and closure. In this context, the recovery of the industrial economy is crucial to the global economic recovery. This paper explores the measures to restore the industrial economy from three aspects: government, enterprises, and individuals, including fiscal and economic stimulus measures, supporting enterprises and employees, promoting national and international trade, strengthening scientific and technological innovation and digital transformation, and strengthening environmental protection and sustainable development. Through these measures, we can realize the recovery and growth of industrial production, promote the recovery of the global economy, and lay the foundation for sustainable development in the future.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232182

    Unemployment in the United States—Economic Inequality in the Context of Industrial-technological Upgrading and Outsourcing in the United States Since the 1990s

    There is significant concern that industrial-technological upgrading and outsourcing in the United States have led to increased economic inequality since the 1990s. In the fourth Industrial Revolution, computerization, automation, and artificial intelligence allowed American companies to preserve their technological core competencies and outsource non-core activities to foreign countries. This paper aims to provide the classical vocabulary on this topic, an analysis of the U.S.’s industrial-technological upgrading and outsourcing circumstances, and an explanation of their influence on the widening economic gap since the 1990s. This paper found that the three trends share a synchronous and reinforcing relationship, which can find support in Bruno Latour’s actor-network theory. Businesses that engaged in outsourcing activities benefited financially. While low-skilled and high-skilled workers are both at risk of losing their jobs because of improved technology, the former is more vulnerable. Industrial-technological upgrading facilitates outsourcing, and outsourcing facilitates the former in return. They both contribute to a widening economic gap. This paper was written when many questions arose on the subject. It connects industrial-technological upgrading with outsourcing, which previous research failed to do.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232184

    Anchoring Effect and Its Applications

    Anchoring effects are commonly present in the economic field, and their existence can bring many problems. The purpose of this article is to study the anchoring effect between individuals, markets, and investments, as well as the impact of the anchoring effect and which factors may affect it based on existing literature and relevant experimental results. Each aspect was studied through some experiments, and through these experiments, the anchoring effect had a significant impact on all three aspects. The result shows that for individuals, their estimates tend to be anchored; for market brands, the image of co-branded brands is influenced by high-visibility brands (anchors); and for investors, through research, it has been found that anchoring effects exist in individuals, markets, and investments, and there are different factors that can affect anchoring effects. For example, if investors have more knowledge reserves, the anchoring effect on them will weaken.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232185

    Unemployment Risk Perception among College-educated Practitioner under Employment Priority Strategy ——Take Tongzhou District as an Example

    Employment is crucial for people’s livelihoods. However, the COVID-19 pandemic has led to widespread concerns about unemployment among workers. To study the perception of unemployment risk among university graduates and its influencing factors, this research analyzed 307 survey responses from university-educated individuals in Tongzhou District, Beijing, focusing on personal characteristics and job-related factors. The study found that nearly 80% of university graduates expressed concerns about unemployment. Educational attainment, occupation type, nature of the employing organization, and the most significant risk faced during employment significantly influenced the perception of unemployment risk among university-educated individuals. Finally, this study proposes corresponding strategies and suggestions from government, companies, and individuals, aiming to provide insights and assistance in improving the quality of employment.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232186

    Research on the Role of Digital Economy in Industrial Structure Optimization –Evidence from China's Provincial Panel

    The development of digital economy not only promotes economic growth, but also promotes the optimization and development of industrial structure. Using the panel data of 31 provinces provided by China Statistical Yearbook, this paper constructs two indicators of digital economy and industrial structure optimization, and uses two-way fixed effect model to study the impact effect, heterogeneity analysis and mechanism analysis of digital economy on industrial structure optimization. The research shows that the development of digital economy has significantly optimized the industrial structure; In different regions of China, the role of digital economy in the optimization of industrial structure is different. The improvement of innovation level and social division of labor will significantly promote the optimization effect of digital economy on industrial structure. The results of this study show that it is necessary to further promote the integration of digital economy and the traditional three industries, and give full play to the enabling role of digital economy with higher quality. We should pay attention to the different impacts of digital economy on industrial structure optimization in different regions and take measures according to local conditions. It is necessary to refine the social division of labor in the region and strengthen the regional innovation ability, so as to give full play to the optimization efficiency of digital economy on industrial structure.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232187

    The Impact Automated Market Makers on Stock Prices and Returns

    Examining the impact Automated market makers have on stock prices and returns is the focus of this study. Automated market makers are state-of-the-art financial instruments that facilitate the bilateral trade of digital assets in the DeFi industry. Market participants trade against pools of liquidity rather than individual buyers and sellers. Market returns, price changes, and liquidity levels will be analyzed both before and after the introduction of automated market makers. We’ll take a look at how automated market makers affect transaction costs, liquidity, and trading volume. Major stock markets that employ automated market makers will be surveyed for data collection and analysis. The effect of liquidity ratios on market performance will be studied statistically. Understanding the impact Automated market makers have on market returns and pricing is critical for traders, regulators, and researchers. Improved investment returns and the development of decentralized financial ecosystems may result from incorporating the results into market structure and liquidity. The implementation of automated market makers on centralized stock exchanges has been aimed at enhancing market efficiency. This research investigates the impact of automated market makers on stock prices and returns. Using monthly market returns from the closing index and equity price data, the study examines the effects before and after the implementation of automation. The study utilizes a longitudinal research design, analyzing listed firms with data spanning the study period. The findings contribute to the understanding of the influence of automated market makers on stock prices and returns, particularly in regions with limited literature on the subject.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232188

    Navigating the Pandemic: An Analysis of the Monetary Policy Response in Singapore

    The COVID-19 pandemic substantially impacted the worldwide economy, and Singapore was not immune to its effects. In response to the outbreak, to sustain the economy and ensure price stability, the Monetary Authority of Singapore (MAS) implemented various monetary policy measures. This paper analyzes a series of timely and effective measures taken by the Monetary Authority of Singapore, including specific actions and their impacts, by combining qualitative and quantitative methods with specific economic activity data over the years. This paper demonstrates the effectiveness of most policies adopted by the Monetary Authority of Singapore, including an evaluation of their impact and potential future implications, as well as their contribution to monetary policy and its response to crises.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232194

    A Review of Cultural, Policy, and Technological Developments in Silicon Valley's Entrepreneurial Ecosystem

    Silicon Valley has been a hub of technology innovation and entrepreneurship since the 1950s. And its entrepreneurial ecosystem is the key to its success and durability. Culture, government, and technology all play a part in Silicon Valley's startup ecosystem.These changes have been crucial in establishing the region as a hub for innovation and entrepreneurship. The people of Silicon Valley have a high tolerance for risk, creativity, and experimentation. Government policies in Silicon Valley play an essential role in encouraging entrepreneurship and innovation by contributing to the region's pervasive "fail fast" attitude. Silicon Valley has been at the vanguard of technical progress and entrepreneurial growth, and regulations like protected innovation have helped to safeguard intellectual property. Recent years have seen significant progress in the areas of information technology, biotechnology, and artificial intelligence in this part of the world. In order to gain a thorough understanding of the entrepreneurial ecosystem of Silicon Valley and to offer helpful experience and suggestions for the development of industries in other parts of the world, this paper will use the research method of literature review to summarize and review the evolution of culture, policy, and technology in Silicon Valley's ecological environment.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232198

    Research on the Augmented Dickey-Fuller Test for Predicting Stock Prices and Returns

    With the continuous accumulation of theoretical knowledge and progressive applied research, analyzing financial time series data gradually becomes everlasting research in modern days. The simpler Dickey-Fuller originally is a test commonly used in econo-metrics and finance to test the stationarity of financial time series data. Thereafter, simpler Dickey-Fuller is eventually extended to the augmented Dickey-Fuller test to examine the stationarity of financial time series data such as stock prices, returns, and so on. This paper mainly focuses on the utilization of the augment Dickey-Fuller test and tests the stationarity of stock prices and returns for Nike, and Amazon. Both the stock price which is non-stationary, and the return, which is stationary, illustrate that these two companies are market-efficient. Additionally, the paper provides plots of stock prices and returns for these two companies by executing Python code. The results from the augment Dickey-Fuller test not only verify the characteristics of these plots but also indicate that the augment Dickey-Fuller test is useful to predict stock price and return.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232200

    The Application of the Markowitz Model for Portfolio Optimization in High-End Companies

    This study investigates the application of the Markowitz Model in optimizing portfolios of high-end companies. By analyzing a 20-year dataset spanning 2001 to 2021, this paper explores the construction of efficient and minimum variance frontiers and their performance compared to the index model and the naive portfolio approach. The findings highlight the limitations of relying solely on historical data, as past performance may not accurately predict future outcomes due to evolving market conditions and company-specific factors. Additionally, the study emphasizes the need for incorporating practical factors such as transaction costs and liquidity constraints into the evaluation of portfolio optimization models. Furthermore, the study acknowledges the limitations of its focus on certain companies, recognizing that findings may not be directly applicable to other regions and markets with differing economic, regulatory, and industry dynamics. While the Markowitz Model offers a sophisticated framework for portfolio optimization, it is important to consider these limitations and conduct further research to enhance its effectiveness in diverse investment contexts.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232202

    User Sentiment Analysis Based on Online Reviews -Taking the Forbidden City Afternoon Tea Restaurant as an Example

    Nowadays, Internet consumption has become a familiar name, and there are more and more feedback channels on the production experience of consumers, and the content of evaluation also determines consumers' views on the goods to a certain extent. Therefore, the rational use of online comment contents can not only help consumers understand the basic information of products, but also help enterprises to better obtain the needs of consumers and provide more references for them. This paper selects the comment data of the Palace restaurant in Dianping software, and uses Python software to conduct data mining, emotion analysis, word frequency statistics and word cloud drawing. The conclusion shows that consumers have a positive emotional tendency towards the afternoon tea in the Palace Museum, with few negative comments. At the same time, consumers pay more attention to the dining location and food ingredients. Therefore, businesses can increase the improvement of dishes and environmental transformation through online reviews to better meet the needs of consumers. This research not only provides the basis for the evaluation of the business level, but also helps to enrich the consumer's understanding of the business.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232205

    Analysis of Walmart's Marketing Strategy Based on STP Theory

    Walmart is a retail industry leader, and its growth and success have given the company a measure of reference significance. Analyzing the retail industry's current market condition, resolving the challenge, and providing strategic reference for other businesses may all be accomplished by studying Walmart's approach to marketing. This study examines the following aspects of Walmart's marketing strategy through literature review and analysis method: market segmentation, market target, and market positioning, with an eye on the theory underlying each of them. The research concluded that Walmart used population, geography, and the purchasing power of different consumer groups to divide the market into distinct segments, and that the company used both a generic marketing strategy and a more targeted marketing strategy to meet customer demand for its low prices and convenient locations. Walmart has made tactical tweaks to the aforementioned marketing methods to account for the ever-shifting nature of the market. In order to pursue the sustainable development of businesses, the paper adopts a more complex and humanized segmentation principle, modifies the market target strategy and market positioning, and upgrades the positioning to energy conservation and environmental protection.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232206

    The Secret of the Eponymous Company - Taking Tesla as an Example

    A company's eponymous character can help consumers remember it, highlight the company's worth to the public through the characters' backstories, and deepen the viewer's emotional stake in the brand. By means of his namesake company, Tesla is delivering messages about innovation, exploration, and progress. At the same time, the company has released products that can be used in any age, thus proving the quality of the brand. In addition, Tesla's vision is aligned with the company's "electric" components. The United States' significance for 2022 Tesla's brand value to achieve the third automobile category, and Tesla's corporate culture are intertwined. This paper uses a literature review and a case study to investigate the effect Tesla has on a company's stock price, and it finds that the company's namesake has a positive effect on the stock price and has helped foster a healthy corporate culture at Tesla.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232209

    Impact of the Sino-US Trade War on Factor Endowment in the Guangdong-Hong Kong-Macao Greater Bay Area: A Perspective from Factor Endowment Theory

    This study chooses the Guangdong-Hong Kong-Macao Greater Bay Area as the research object to explore the impact of Sino-US trade barriers on the factor endowment of the region. Based on the factor endowment theory, this paper proposes a hypothesis, tests collinearity, and establishes a multiple linear regression model. The results show that the trade barriers between China and the U.S. cannot explain the changes in GBA's factor endowments since the fitting degree is low. The correlation test shows the substitution effect between factor endowments. Based on the data analysis results, Sino-US trade barriers did not affect the factor endowment of the GBA. The possible reasons are the trade deflection and the policy that restrict factor mobility.

  • Open Access | Article 2023-11-10 Doi: 10.54254/2754-1169/44/20232210

    Comparison of Fund Robo-advisor and Manual Decision-making —Focused on China Securities Examples

    As a major achievement in the field of Fintech, intelligent investment has gradually become popularized in China due to its low-cost and low-barrier advantages. However, few studies have compared the income gap between robo-advisor and manual decision-making. As a well-known securities company in China, China Securities is at the forefront of the development of intelligent investment and has achieved good results in fund business and intelligent investment business. This study compares fund products managed by China Securities' fund manager with those on the robo-advisor trading platform "Qingting Butler". By comparing its cumulative rate of return during the period and daily yield, calculating the Adjusted R-square, average value, and overall variance, using the unary linear regression analysis method, to explore the gap between manual decision-making and robo-advisor. Based on the comparison between the two major decisions, it will preliminarily explore the development of robo-advisor in the Chinese market and provide a quantitative basis for investors when facing artificial and intelligent investment choices.

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